GE will acquire a huge hunk of French company Alstom, gaining its gas turbine and international steam turbine business while becoming a 50% JV owner in three other businesses: power grid equipment, renewable energy products, and nuclear power plants.
The French government will take a 20% interest in Alstom, making it the largest majority shareholder. While the US firm beat out German and Japanese bidders, France required GE to agree that it will create job opportunities for French nationals with the government having a major say in operations.
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