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On 19 December the shareholders of ALSTOM have to decide about the selling of ALSTOM’s energy business to GE for a sales price of EUR 12.35bn, as well as the amount of a dividend distribution respectively cash return to the shareholders. The European Works Forum of ALSTOM demands from the shareholders to make this decision with a sense of proportion and diligence. The European Works Forum expects a cash return to the shareholders considerably lower than the announced amount of EUR 3.5bn up to EUR 4bn.
On 19 December the shareholders of ALSTOM have to decide about the selling of ALSTOM’s energy business to GE for a sales price of EUR 12.35 bn as well as the amount of a dividend distribution respectively cash return to the shareholders.
The European Works Forum of ALSTOM demands from the shareholders to make this decision with a sense of proportion and diligence. The European Works Forum expects a cash return to the shareholders considerably lower than the announced amount of EUR 3.5 up to 4 bn.
From the European Works Forum’s point of view concerning this decision the following issues have to be taken in consideration and be assessed carefully:
The future “New ALSTOM” will be only composed of transport business, operating in a very difficult global market
That’s why the New ALSTOM needs a stable and resilient financial basis. To fulfill this, it is intended to use a part of the selling price
This amount needs to be that sufficient and adequate not only to reduce ALSTOM’s remaining debts but also to secure necessary invests in the development of new and innovative products and ALSTOM’s sites
This is the only way to achieve sustainable competitiveness and thereby secure employment.
The European Works Forum appeals to the shareholders to be aware of their social responsibility and to act that way.
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