(MENAFN) The French government announced the acquisition of 20 percent stake in Alstom firm, marking the biggest shareholder in the country's main engineering group, Xinhua reported.
With the stake deal, the government targeted to stabilize the business capital provides and long-term support in implementing its strategic plan and its alliance with General Electric, a statement of the French presidency said.
Under the business deal, Bouygues will initially lend Alstom stock to the French state so that the government can exercise an immediate role as the group's main shareholder.
For the next 20 months, the state has an option to purchase a maximum of 20 percent of Alstom's capital held by Bouygues at an unspecified discount. By then, the accord offered it the purchase of up to 15 percent at a similar discount.
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