Alstom announces plan to sell €2 billion in assets by the end of next year
The French power and transport engineering company Alstom has recently announced that the company intends to sell up to a staggering €2 billion worth of its assets before the end of next year. The reason for the recent announcement from the company is due to what the company has called the current “low-growth” environment in the economy. They have taken the decision to offload a portion of the company’s assets in order to remain competitive.
In order to cut costs in an effort to generate the €2 billion the company are willing to sell a minority stake in train and railway equipment in a bid to attract potential buyers from within the industry as well as possible private equity buyers. The decision has not been taken likely and is one that the company chief executive Patrick Kron believes will help them progress going into the future. Mr. Kron was quoted as saying “In the current low-growth environment, we need to further reinforce our competitiveness.”