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GE reaps Alstom reward

CFO says acquisition delivered $1.5bn in synergies in 2016

GE reaps Alstom reward image

GE’s acquisition of Alstom’s energy assets delivered $1.5bn in synergies in 2016, $300m above the company’s five-year target, according to chief financial officer Jeff Bornstein.

Bornstein was speaking to investors at a conference in New York held by GE’s Power and Renewable Energy businesses last week.

He said: “Alstom makes us more competitive. It broadens the service base and creates long-term incremental value.”

GE acquired Alstom’s power and grid businesses in 2015 for €9.7bn.

Image: GE

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