GE reaps Alstom reward
CFO says acquisition delivered $1.5bn in synergies in 2016
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.