The sale of the company's Energy division to GE was finalised 2 November 2015-the final valuation being ?12.4 billion, of which ?9.7 billion was transferred to Alstom, the remainder being reinvested by Alstom in GE / Alstom joint ventures, plus other corrections.
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In response to criticisms regarding chandelier bidding and unidentified third-party guaranteed bids, Christie's International chairman Edward Dolman countered that, without a secret reserve, illegal cartels of bidders would know in advance information that could facilitate their manipulation of the market and corruption of final valuation by selling price at auction.
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