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Alstom en Siemens fuseren rail-activiteiten (MOU) - Grote brok voor grote appetijt?
Edited: 201709301214


Volgens de 1M van Frankrijk, Edouard Philippe, moet de fusie leiden tot een grotere Europese rail-groep die moet kunnen opboksen tegen de concurrentie van China.
Commentaar: Ik zie niet in hoe een schaalvergroting een voordeel zou kunnen zijn, gegeven de significant lagere productiekosten in China. Het conglomeraat Siemens/Alstom wordt eerder een aantrekkelijker prooi voor de grote appetijt van de Chinese investeerders (of Big Players die zich voor Chinezen laten doorgaan). En dus is het best mogelijk dat Siemans/Alstom binnen enkele jaren opgeslokt wordt door het netwerk van de Big Players.

Hieronder het perspericht van Alstom, vrijgegeven op 26/9/2017.

Siemens and Alstom join forces to create a European Champion in Mobility
26/09/2017
Signed Memorandum of Understanding grants exclusivity to combine mobility businesses in a merger of equals
Listing in France and group headquarters in Paris area; led by Alstom CEO with 50 percent shares of the new entity owned by Siemens
Business headquarter for Mobility Solutions in Germany and for Rolling Stock in France
Comprehensive offering and global presence will offer best value to customers all over the world
Combined company’s revenue €15.3 billion, adjusted EBIT of €1.2 billion
Annual synergies of €470 million expected latest four years after closing
Today, Siemens and Alstom have signed a Memorandum of Understanding to combine Siemens’ mobility business including its rail traction drives business with Alstom. The transaction brings together two innovative players of the railway market with unique customer value and operational potential. The two businesses are largely complementary in terms of activities and geographies. Siemens will receive newly issued shares in the combined company representing 50 percent of Alstom’s share capital on a fully diluted basis.

“This Franco-German merger of equals sends a strong signal in many ways. We put the European idea to work and together with our friends at Alstom, we are creating a new European champion in the rail industry for the long term. This will give our customers around the world a more innovative and more competitive portfolio”, said Joe Kaeser, President and CEO of Siemens AG. “The global market-place has changed significantly over the last few years. A dominant player in Asia has changed global market dynamics and digitalization will impact the future of mobility. Together, we can offer more choices and will be driving this transformation for our customers, employees and shareholders in a responsible and sustainable way”, Kaeser added.

“Today is a key moment in Alstom’s history, confirming its position as the platform for the rail sector consolidation. Mobility is at the heart of today’s world challenges. Future modes of transportation are bound to be clean and competitive. Thanks to its global reach across all continents, its scale, its technological know-how and its unique positioning on digital transportation, the combination of Alstom and Siemens Mobility will bring to its customers and ultimately to all citizens smarter and more efficient systems to meet mobility challenges of cities and countries. By combining Siemens Mobility’s experienced teams, complementary geographies and innovative expertise with ours, the new entity will create value for customers, employees and shareholders,” said Henri Poupart-Lafarge, Chairman and Chief Executive Officer of Alstom SA. “I am particularly proud to lead the creation of such a group which will undoubtedly shape the future of mobility.”

The new entity will benefit from an order backlog of €61.2 billion, revenue of €15.3 billion, an adjusted EBIT of €1.2 billion and an adjusted EBIT-margin of 8.0 percent, based on information extracted from the last annual financial statements of Alstom and Siemens. In a combined setup, Siemens and Alstom expect to generate annual synergies of €470 million latest in year four post-closing and targets net-cash at closing between €0.5 billion to €1.0 billion. Global headquarters as well as the management team for rolling stock will be located in Paris area and the combined entity will remain listed in France. Headquarters for the Mobility Solutions business will be located in Berlin, Germany. In total, the new entity will have 62,300 employees in over 60 countries.

As part of the combination, Alstom existing shareholders at the close of the day preceding the closing date, will receive two special dividends: a control premium of €4.00 per share (in total = €0.9 billion) to be paid shortly after closing of the transaction and an extraordinary dividend of up to €4.00 per share (in total = €0.9 billion) to be paid out of the proceeds of Alstom’s put options for the General Electric joint ventures of approximately €2.5 billion subject to the cash position of Alstom. Siemens will receive warrants allowing it to acquire Alstom shares representing two percentage points of its share capital that can be exercised earliest four years after closing.

The businesses of the two companies are largely complementary. The combined entity will offer a significantly increased range of diversified product and solution offerings to meet multi-facetted, customer-specific needs, from cost-efficient mass-market platforms to high-end technologies. The global footprint enables the merged company to access growth markets in Middle East and Africa, India, and Middle and South America where Alstom is present, and China, United States and Russia where Siemens is present. Customers will significantly benefit from a well-balanced larger geographic footprint, a comprehensive portfolio offering and significant investment into digital services. The combination of know-how and innovation power of both companies will drive crucial innovations, cost efficiency and faster response, which will allow the combined entity to better address customer needs.

The Board of Directors of the combined group will consist of 11 members and will be comprised of 6 directors designated by Siemens, one of which being the Chairman, 4 independent directors and the CEO. In order to ensure management continuity, Henri Poupart-Lafarge, will continue to lead the company as CEO and will be a board member. Jochen Eickholt, CEO of Siemens Mobility, shall assume an important responsibility in the merged entity. The corporate name of the combined group will be Siemens Alstom.

The envisaged transaction is unanimously supported by Alstom’s board (further to a review process of the preparation of the transaction by the Audit Committee acting as an ad hoc committee) and Siemens’s supervisory board. Bouygues fully supports the transaction and will vote in favor of the transaction at the Alstom’s board of directors and at the extraordinary general meeting deciding on the transaction to be held before July 31, 2018, in line with Alstom board of director decision. The French State also supports the transaction based on undertakings by Siemens, including a standstill at 50.5 percent of Alstom’s share capital for four years after closing and certain governance and organizational and employment protections. The French State confirms that the loan of Alstom shares from Bouygues SA will be terminated in accordance with its terms no later than October 17, 2017 and that it will not exercise the options granted by Bouygues. Bouygues has committed to keep its shares until the earlier of the extraordinary general meeting deciding on the transaction and July 31, 2018.

In France, Alstom and Siemens will initiate Works Councils’ information and consultation procedure according to French law prior to the signing of the transaction documents. If Alstom were not to pursue the transaction, it would have to pay a €140 million break-fee. The transaction will take the form of a contribution in kind of the Siemens Mobility business including its rail traction drives business to Alstom for newly issued shares of Alstom and will be subject to Alstom’s shareholders’ approval, including for purposes of cancelling the double voting rights, anticipated to be held in the second quarter of 2018. The transaction is also subject to clearance from relevant regulatory authorities, including foreign investment clearance in France and anti-trust authorities as well as the confirmation by the French capital market authority (AMF) that no mandatory takeover offer has to be launched by Siemens following completion of the contribution. Closing is expected at the end of calendar year 2018.

de geschiedenis van Siemens

histoire d'Alstom France
Alstom
Historique d'Alstom 1879-2015: de la SACM à Alstom
Edited: 201512312361
1879 : La Société Alsacienne de Constructions Mécaniques (SACM) ouvre une usine de construction de locomotives à Belfort.

1928 : La CFTH (Compagnie Française Thomson-Houston), filiale française de General Electric, et la SACM fusionnent une partie de leurs activités de génie électrique et de transport ferroviaire et créent une filiale commune, Als•Thom.

1932 : Alsthom fusionne avec Constructions Électriques de France (CEF), entreprise de construction d’équipements ferroviaires et de locomotives.

1969 : La Compagnie Générale d’Electricité (CGE) devient l’actionnaire majoritaire d’Alsthom. Après l’intégration de la CGEE, la plus grande entreprise électrique d’Europe, Alsthom emploie plus de 50 000 personnes et pèse pour un tiers dans les revenus de la CGE.

1976 : Alsthom fusionne avec les Chantiers de l’Atlantique et prend le nom d’Alsthom Atlantique.

1978 : L’usine de Belfort livre la première rame de présérie du TGV à la SNCF.

1979 : Alsthom se réorganise : la construction navale devient la troisième division, aux côtés de celles consacrées à la production d’électricité et au transport ferroviaire.

1981 : Le TGV entre Paris et Lyon est inauguré sur la ligne à grande vitesse construite à cet effet.

1982 : Nationalisation de la CGE, qui sera à nouveau privatisée en 1987.

1985 : Alsthom Atlantique change de nom et redevient Alsthom.

1988 : La CGE et le conglomérat britannique GEC annoncent la fusion d’Alsthom avec GEC Power Systems. Le nouveau groupe, détenu à égalité par les deux partenaires, est baptisé GEC Alsthom (79 000 collaborateurs).

1990 : Le TGV Atlantique atteint 515,3 km/h et bat le record du monde de vitesse sur rail.

1991 : La CGE devient Alcatel-Alsthom.

1998 : Alsthom devient Alstom et est introduite en bourse par Alcatel et GEC introduisent Alstom en bourse.

1999 : Alstom et ABB fusionnent leurs divisions Power dans une société commune, ABB Alstom Power, qui deviendra Alstom Power en 2000.

2003 : Le Groupe est en difficultés mais il est soutenu le gouvernement français qui entre au capital. Dans le cadre d’un plan de redressement de ses activités approuvé par les autorités de la concurrence de l’UE, Alstom est contraint de se défaire de 40 % de ses actifs.

Les Chantiers de l’Atlantique livrent à Cunard Carnival le Queen Mary 2, plus grand paquebot transatlantique jamais construit.

2004 : Alstom cède son activité Transmission et Distribution à Areva.

2006 : Alstom vend 75 % des parts de sa filiale Alstom Marine à Aker Yards (Norvège). Bouygues, groupe français de génie civil, rachète à l’État ses 21 % de parts dans le capital d’Alstom et portera ensuite sa participation à 31 %.

2007 : Alstom établit un nouveau record mondial de vitesse sur rail à 574,8 km/h.

2010 : Alstom et Schneider Electric acquièrent Areva T&D, la division Transmission et Distribution vendue par Alstom à Areva en 2004. Alstom rachète ensuite l’activité Transmission et crée un troisième secteur, Alstom Grid.

2011 : Alstom réorganise ses activités opérationnelles en quatre secteurs : Thermal Power, Renewable Power, Grid et Transport.

2014 : Le 19 décembre, l'assemblée générale extraordinaire des actionnaires d'Alstom a approuvé le projet de cession des activités Energie d'Alstom à General Electric.

2015 : La transaction est finalisée et Alstom se recentre sur son secteur transport.