Alstom to launch share buy-back worth 3.2 billion euros
PARIS (Reuters) - French engineering group Alstom said on Wednesday it would launch a share buy-back programme worth 3.2 billion euros (1.6 billion pounds) on Dec. 23.
Alstom said the programme would concern as many as 91.5 million shares or 29.5 percent of its shareholder capital, at 35 euros a share.
Shares in Alstom closed up 4.12 percent at 30.99 euros before the announcement was made.
The company said the buy-back would be submitted for approval at a shareholder meeting on Dec.18.
French industrial conglomerate Bouygues would take part in the share buy-back programme and keep its stake unchanged at 29.2 percent, Alstom said.
Alstom completed a 12.35 billion euro sale of its energy business to U.S. General Electric on Monday, helping it refocus on its transport business.
(Reporting by Astrid Wendlandt; Editing by Matthias Blamont)
