Fransa'nın önemli mühendislik firması Alstom'un General Electric (GE)'ye satışında, GE'nin devralmasında, satış şartlarına Fransa hükümetinin itirazları sonuç veriyor. GE, yeni teklifinde çeşitli tavizler veriyor, hükümetin isteklerini karşılıyor, Fransız Hükümetine bazı işlerde altın hisse teklif ediyor. İş, bir devralmadan, bir ortaklığa döndü ve Alstom, GE'nin son teklifini kabul etti.
GE'nin teklifini revize etmesinde Siemens- Mitsubishi ortaklığının alternatif teklifinin de rolü var.
GE'nin teklifini revize etmesinde Siemens- Mitsubishi ortaklığının alternatif teklifinin de rolü var.
Hatırlarsanız eskiden PTT'nin ARLA adlı bir araştırma laboratuarı vardı. Bu araştırma merkezi sonradan Teletaş adlı bir şirkete dönüştü. Teletaş'ta, sanırım Özal zamanında özelleştirildi ve Fransız Alcatel şirketine satıldı. Alcatel'in ilk işlerinden biri şirketin laboratuarlarını kapamak olmuştu. Aynı şey, Lassa'nın yarısının Sabancı Holding tarafından Japon Bridgestone'a satılmasında oldu. Bridgestone'un da ilk işi, Lassa ve Kordsa'nın ortak araştırma şirketi olan Argesa'yı kapamak olmuştu, hatta sanırım bu bir satış şartı idi. Ancak konu Türk hükümetinin ilgi sahasında değildi. Lassa'daki bir çok arkadaşımız bu duruma çok üzüldü. Büyük emeklerle kurulan araştıma ekibi dağıldı, bir çoğu yurtdışına gitti.
Türkiye'deki özelleştirmenin keskin taraftarları bunları bilmeli. Fransa'da hükümet, sadece özelleştirmede değil, özel bir firmanın bile yabancılara hangi şartlarla satılamayacağına karışıyor. Fransa'ya Kapitalizm 2.0'ın uygulamaları gelmiş.
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General Electric has revised its offer for French industrial champion Alstom in an attempt to appease government concerns and strike a killer blow against a rival bid by Siemens and Mitsubishi Heavy Industries In a significant concession to French government demands, GE and Alstom will enter into a 50:50 joint venture over their combined power grid assets and another joint venture containing Alstom’s renewable energy assets. (Financial Times)
GE revises Alstom bid to appease Paris
By Michael Stothard and Hugh Carnegy in ParisAuthor alerts
General Electric has revised its offer for French industrial champion Alstom in an attempt to appease government concerns and strike a killer blow against a rival bid by Siemens and Mitsubishi Heavy Industries
In a significant concession to French government demands, GE and Alstom will enter into a 50:50 joint venture over their combined power grid assets and another joint venture containing Alstom’s renewable energy assets.
There will be a third 50:50 joint venture mainly in nuclear technology, in which the government will get a “golden share” that would grant it a veto. This will “assure security and growth of nuclear steam technology for France,” GE said.
The overall $16.9bn value of the offer remains unchanged, but the US conglomerate has agreed to sell Alstom its rail signalling business in a bid to strengthen the French group’s remaining transport business.
Jeffrey Immelt, GE chief executive who is due to meet President François Hollande on Friday, said there had been “constructive dialogue” with ministers and that the Alstom management had said that they were “very comfortable” with the deal.
He added a note of reassurance to GE shareholders as well: “The fundamental economics [of the deal for GE] have not changed that greatly.”
France’s Socialist government has been pressing GE to allow Alstom to preserve a minority stake in the business, with potentially a “tiny symbolic” stake for the French state as well, a senior official said on Wednesday.
Mr Immelt flew to Paris on Thursday for a new round of negotiations with government officials and unions.
The French government has given itself an effective veto over the deal. It is intending to make a decision on its preferred bidder by the weekend, the senior official said, who described the two offers as running “neck and neck”. Alstom’s board has until Monday to decide between the two offers.
Siemens is offering €3.9bn for Alstom’s gas turbines business, while Japan’s Mitsubishi Heavy and partner Hitachi would pay €3.1bn to take minority stakes in joint ventures with Alstom in its steam, grid and hydro divisions.
Christophe de Maistre, head of Siemens France, commented on Thursday: “The counter offer of GE reinforces the credibility of the joint MHI/Siemens concept. It actually follows our approach – but doesn’t change the game. Our concept is still superior.”
The government had viewed Mitsubishi-Siemens as having a “slight advantage” because their proposal was based on forming a partnership with Alstom, not a takeover.
But the government official said that if the GE offer “ticked the sovereignty box”, the bias would shift its way because its proposal was more straightforward to implement and was favoured by the Alstom board.
The official said the government meanwhile needed more clarity from Mitsubishi on its long-term intentions for Alstom’s steam turbine operations, in which the Japanese company proposes taking a 40 per cent minority stake.
Paris wants to know whether Mitsubishi would look to merge them with existing operations.
The Alstom board is leaning towards supporting the GE offer, in part due to concerns about how the rival offer would give Mitsubishi the power to veto future tender bids that competed directly with the Japanese group, according to people close to the talks. Mitsubishi regularly competes with the French company for projects across Europe and Asia.
