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| Exchange Received Time 03/10/2018 18:13:09 Exchange Disseminated Time 03/10/2018 18:13:14 Time Taken 00:00:05 | GE announced on October 2, 2018 that, as per the May 2018 agreement with Alstom, GE has completed the acquisition of Alstom's minority ownership of the three joint ventures (JVs) that were established at closing of the acquisition of Alstom's Power and Grid assets in November 2015.
As a result of the transfers, GE paid to Alstom an aggregate amount €2.594 billion (~$3.0 billion). These transfers will not have any impact on the day-to-day operations of the businesses as GE has always held sole operational and management control over the JVs since their inception.
GE Grid Alliance B.V., the shareholder of GE T&D India Limited was one of the JVs.
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