October 2, 2018 - GE announced today that, as per the May 2018 agreement with Alstom, GE and Alstom have completed the transfer of 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.
The transfers done today give GE full ownership of the three former JVs. As a result of the transfers, GE paid to Alstom today 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 held operational control since the inception of the JVs.
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