Ansaldo Energia set to capitalise thanks to GE-Alstom concession

Italian power engineering firm Ansaldo Energia is emerging as a potential beneficiary of EU competition law after GE, according to insiders, offered to sell gas-turbine assets to it in an attempt to win approval for its plan to buy most of Alstom SA’s energy business.

Four people familiar with the situation have told Bloomberg news agency that GE has told the EU it is willing to offload some of Alstom’s sale and servicing activities, as well as some intellectual property to Ansaldo Energia SpA.
Ansaldo Energia
Ansaldo is in line to gain access to Alstom’s installed base of large and very large turbines, client list and its profitable servicing business, according to the unnamed sources As part of GE’s offer to the EU, Ansaldo could also buy Alstom’s Power Systems Manufacturing unit which can service gas turbines of different makes, they said.

GE offered to give Ansaldo access to Alstom’s installed base -- turbines that have already been sold and for which the French manufacturer holds a long-term servicing agreement -- but the concessions don’t include the entire European fleet, one of the people said. Representatives for the commission, GE, Alstom and Ansaldo declined to comment.

Shanghai Electric Group Co. agreed last year to pay 400 million euros for a 40 per cent stake in Ansaldo.



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