Alstom Considers Capital Increase, Asset Sales Amid Rising Debt

CEO Henri Poupart-Lafarge to step down as chairman as company plans to cut about 1,500 staff and sell assets to meet its mid-term targets.

Alstom's largest shareholder, Canadian investment group CDPQ, welcomes the company's action plan to improve its financial situation.
Alstom is considering a capital increase and is seeking asset sales worth up to 1 billion euros to bolster its balance sheet.
Alstom's net debt has jumped 50% to 3.4 billion euros since March, prompting the company to propose no dividend for the current fiscal year.
Alstom plans to cut about 1,500 staff and sell assets to meet its mid-term targets.
CEO Henri Poupart-Lafarge will step down as chairman, with the board proposing Philippe Petitcolin as a new chairman.