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Bouygues Takes $1.9 Billion Write-down On Alstom Stake

wochit business
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February 17, 2014 AT 4:59 AM
French conglomerate Bouygues will write down the value of its stake in train and turbine maker Alstom by $1.9 billion, to reflect its weaker cash flow forecasts and depressed market value. The move cuts the stake's value in Bouygues' balance sheet by about 31 percent to 3.08 billion euros. The construction-to-telecoms conglomerate said on Monday that the write-down will appear in fourth-quarter financial statements, and will have no impact on Bouygues' cash position or operating performance,