PARIS, June 19 General Electric outlined
an updated offer to buy French engineering group Alstom's
power and grid businesses on Thursday that will
include two 50:50 joint ventures in grid and renewables, and a
global nuclear and steam alliance.
GE said its valuation for Alstom remains unchanged and that
the deal would immediately boost the U.S. company's earnings.
"The alliance will retain and strengthen France's presence
in the energy business and reinforce Alstom Transport. It
creates jobs, establishes headquarters decision-making in France
and ensures that the Alstom name will endure," GE Chief
Executive Jeff Immelt said in a statement.
GE added that the 50:50 nuclear alliance would see the
government holding a preferred share giving it veto and other
governance rights over issues related to security and technology
of nuclear plants.
(Reporting by James Regan; Editing by Mark John)