Bouygues has announced that it will sell half of its stake in Alstom for more than 500 million euros, to keep only 3,12% of the capital of the railway manufacturer.
Bouygues, which owns 6,35% of Alstom's capital, "announces its intention to sell 12.000.000 Alstom shares as part of a placement with investors," said the French construction and telecoms giant in a press release, specifying that after the placement, Bouygues would retain 3,12% of Alstom's share capital.
The sale of 12 million shares represents 516,840 million euros at the Alstom share price which reached 43,07 euros on Tuesday at the close of the Paris Stock Exchange.
Bouygues indicates that it has committed to the banks in charge of the placement to keep the balance of its stake in Alstom "for a period of 60 days from the date of settlement delivery of the placement, subject to the usual exceptions".
The CAC 40 giant announced on February 18 a drop in its net profit of more than 40% in 2020 in the context of the health crisis with 696 million euros against 1,184 billion in 2019.
Alstom's contribution to the group's benefit amounted to € 2020 million in 169, compared to € 238 million in 2019, Bouygues said in its press release.
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