February 17, 2014 / 6:50 AM / 4 years ago

Bouygues takes 1.4 bln-euro write-down on Alstom stake

PARIS, Feb 17 (Reuters) - France’s Bouygues said on Monday it would take a 1.4 billion euro ($1.92 billion) write-down on its investment in Alstom in its fourth-quarter financial statements.

The write-down, which reduces the value of the turbine and train maker in Bouygues’ balance sheet to 3.079 billion euros, will have no impact on its cash position or operating performance, Bouygues said in a statement.

Bouygues is Alstom’s largest shareholder with a stake of about 29 percent. Alstom last month said persistent weakness in demand for new thermal power plants was weighing on its outlook for free cash flow and operating margin. ($1 = 0.7307 euros) (Reporting by Natalie Huet; Editing by Andrew Callus)

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