(MENAFN) France's Economy Minister authorized the sale of most of Alstom's energy assets to US group General Electric, cleaning the way for a deal worth almost USD17 billion, AFP reported.
"Emmanuel Macron ... today gave his authorization to General Electric (GE) for the realization of its investment project in France with Alstom and the creation of an industrial alliance between the two groups in the energy sector," said a statement from his ministry.
French government approval of the deal was needed because of a May decree that gives Paris veto rights over foreign bids for "strategic" French companies, notably those in the energy and transport sectors.
The ministry of economy said it was satisfied that "state interests" in France's nuclear activities and energy security were "fully taken into account" under the deal.
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