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Industrial Conglomerates

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  • SYDNEY, June 24- Australian billionaire Solomon Lew effectively ended a 17- year standoff with South Africa's Woolworths Holdings Ltd on Tuesday with a deal that will have the department store firm buy him out of two investments at a massive profit.

  • PARIS, June 23- French conglomerates Alstom and Vinci signed a 2 billion euro deal with Qatar on Monday to build a tram system in the future Lusail City, while the two countries also discussed a possible defense contract.

  • INSIGHT-Alstom loss is PR win for new Siemens chief Monday, 23 Jun 2014 | 8:44 AM ET

    *Siemens CEO earns praise for shrewd moves in Alstom battle. On Friday, the French government announced it had chosen U.S. conglomerate General Electric over Siemens and its bidding partner Mitsubishi Heavy Industries in the contest to acquire the energy assets of Alstom.

  • *Alstom to get $10 bln in cash as part of GE deal. PARIS, June 23- France will be making a sound investment by taking a stake in Alstom, its chief executive said on Monday, adding however that the government would be buying in too late to have a say in the use of proceeds from its tie-up with General Electric.

  • Merkel ally criticises French over Alstom deal Monday, 23 Jun 2014 | 4:32 AM ET

    BERLIN, June 23- A conservative ally of Chancellor Angela Merkel accused France on Monday of showing "ice-cold" national interests in choosing GE over Siemens for an alliance with Alstom, and also questioned whether Paris had the fiscal leeway to buy a large stake in the French firm.

  • Merkel ally criticizes French over Alstom deal Monday, 23 Jun 2014 | 4:32 AM ET

    BERLIN, June 23- A conservative ally of Chancellor Angela Merkel accused France on Monday of showing "ice-cold" national interests in choosing GE over Siemens for an alliance with Alstom, and also questioned whether Paris had the fiscal leeway to buy a large stake in the French firm.

  • *To buy GE Money Bank for 700 million euros. MADRID, June 23- Spain's Santander is buying GE Money Bank, GE Capital's consumer finance business in Sweden, Norway and Denmark, for 700 million euros in its latest move to diversify away from its struggling domestic market.

  • *France seeks to buy Bouygues' 20 pct in Alstom. *Formal deadline for GE offer for Alstom is Monday. PARIS, June 22- The French government was locked in negotiations on Sunday over its planned purchase of a stake in Alstom from conglomerate Bouygues, the last hurdle in an announced tie-up between Alstom and General Electric.

  • ATHENS, June 20- China wants to invest in Greece's airports, railways and its busiest port, the two countries said on Friday, as the country where the euro debt crisis began seeks a role as China's gateway into Europe.

  • Greece seeks role as China's gateway to Europe Friday, 20 Jun 2014 | 11:29 AM ET

    ATHENS, June 20- China wants to invest in Greek airports and railways as well as the busiest port, officials said on Friday, as the country where the euro debt crisis began seeks a role as China's gateway into Europe.

  • PARIS/ FRANKFURT, June 20- Siemens and Mitsubishi Heavy Industries raised their offer for Alstom's energy arm on Friday, challenging a revamped bid by General Electric as the deadline for a decision nears. This values Alstom's power businesses at 14.6 billion euros, Siemens said, 400 million more than previously and still well above GE's 12.4 billion.

  • UPDATE 4-GE reshapes Alstom offer to appease France Thursday, 19 Jun 2014 | 8:34 PM ET

    *GE to sell rail signalling unit to Alstom. *Alstom board to decide by Monday, no Alstom comment. PARIS, June 19- General Electric revised its bid for the power arm of Alstom on Thursday, offering alliances in energy and rail to appease the French government and beat a rival proposal by Siemens and Mitsubishi Heavy Industries.

  • *U.S. group says alliance proposal agreed with Alstom management. PARIS, June 19- U.S. conglomerate General Electric reshaped its offer for the power assets of Alstom on Thursday to propose an alliance based on 50:50 joint ventures that would ringfence sensitive nuclear activities.

  • Alstom's board is due to choose by Monday between a 12.4- billion-euro cash offer for its power arm from U.S. suitor General Electric- which GE boss Jeff Immelt is expected to improve upon later on Thursday- and a rival proposal from Siemens and Japan's Mitsubishi Heavy Industries.

  • *Alstom board decision expected by Monday. PARIS, June 18- General Electric will on Thursday unveil to the French government and unions an improved offer for the energy arm of Alstom, a source close to the U.S. conglomerate said of its efforts to fend off a rival proposal.

  • PARIS, June 18- General Electric will on Thursday unveil to the French government and unions an improved offer for the energy businesses of Alstom, a source close to the U.S. conglomerate said of renewed efforts to fend off a rival proposal.

  • *Siemens eyes Alstom's gas turbines business-sources. MUNICH/ PARIS, June 16- Germany's Siemens and Japan's Mitsubishi Heavy Industries will present a joint offer to France's Alstom in Paris on Monday, challenging a General Electric bid that sparked French government concern about retaining jobs and industry expertise.

  • *Siemens, MHI CEOs to meet Alstom execs in Paris- sources. MUNICH/ PARIS, June 16- Germany's Siemens and Japan's Mitsubishi Heavy Industries will present a joint offer for France's Alstom in Paris on Monday, challenging a General Electric bid that sparked French government concern about retaining jobs and industry expertise.

  • TOKYO, June 16- Mitsubishi Heavy Industries' involvement in Siemens' bid for the power assets of France's Alstom fits in with the Japanese company's plans to build a global presence after a recent major reorganization of its business.

  • PARIS, June 15- France is continuing to press for guarantees from contenders to buy energy assets from Alstom, as Siemens and Mitsubishi Heavy Industries consider a joint move to challenge a formal offer from General Electric.