Case studies
General Electric
Delivering a complex divestiture
When the European Commission and the U.S. Department of Justice approved GE’s acquisition of Alstom’s Power and Grid businesses in September 2015, the approval was tied to the condition that GE would commit to divest segments of Alstom’s heavy-duty gas turbine business. A successful divestiture of this gas turbine business suddenly turned into a key enabler for the €8.5 billion deal. In February 2016, GE announced the successful closing of the divestiture to Ansaldo Energia.
A Deloitte Swiss led team assisted GE with planning and executing the IT aspects of this complex divestiture. Our scope of work included “ring fencing” or separating that part of the business completely from Day one to closing. Our team worked in close collaboration with the client during a very high pressure and stressful time for the organisation.
This divestiture was much more complex than any other divestiture I have done before. In addition to the intricacy, it had to be executed in a very quick but thorough way. Any delay would mean that the GE acquisition and integration of Alstom could not proceed. From the day the Deloitte team arrived, they rolled up their sleeves and pushed for a solution that helped us advance.
— Jens Policke, CIO Steam Power Systems & Project Execution CoE, GE Power
This client story is from the Deloitte Switzerland Annual Review 2016
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