* Launches capital hike to raise up to 300 mln eur
* Increases size of offer to 350 mln eur after
* Capital will help finance Transmashholding deal
* Cash could also fund small acquisitions
* Will reconfirm guidance at H1 earnings in November
(Adds statement on increase of offering)
PARIS, Oct 1 Alstom has successfully
raised 350 million euros ($451.68 million) to finance an
investment in a Russian rail equipment firm a s well as future
acquisitions, the French transport and power engineering company
said on Monday.
After an initial offering of 300 million euros in stock via
private placement was "largely" oversubscribed, Alstom said it
had decided to increase the size to 350 million.
The proceeds will be mainly used to fund the remaining
payment of around $350 million related to a deal under which
Alstom is buying a 25 percent stake in Transmashholding,
Russia's largest maker of locomotives and rail equipment.
Alstom paid a first tranche of $75 million for the stake in
May 2011. The remaining payment, due in October 2012, is based
on the Russian firm's results between 2008 and 2011, which
showed strong growth with sales reaching $3.6 billion in 2011.
The remaining cash from the capital hike could also allow
Alstom to pursue small deals in the renewable energies or
electricity trasmission sectors, the company said in a
Alstom - which makes commuter and high-speed trains, wind
turbines and turbines for power stations - also said it would
reconfirm its previous sales growth and operating margin outlook
when it releases half-year results on Nov. 7.
The company is targeting annual sales growth target of more
than 5 percent in the next three years and a gradual improvement
of the operating margin to reach around 8 percent in March 2015.
($1 = 0.7749 euros)
(Reporting by Elena Berton; Editing by Lionel Laurent and