(MENAFN) US-based General Electric has finally finalized a deal to purchase the energy assets of France's Alstom for a whopping USD10.7 billion.
The takeover closure follows approval of the deal in over 20 countries and regions including the EU, United States, China, India, Japan and Brazil.
The American top firm first reached an agreement with Alstom in April 2014 to buy its power and grid businesses after a bidding war with Germany's Siemens.
"The completion of the Alstom power and grid acquisition is another significant step in GE's transformation," stated GE's chairman and CEO.
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