Alstom, leader in power generation, power transmission and rail infrastructure, announced the closing of the sale of its steam auxiliary components business to Triton, a leading European investment firm. The business was sold for an Enterprise Value of around Euro 730 million as part of the non-core asset disposal programme announced by Alstom in November 2013.

The corresponding activities, representing revenues in excess of Euro 400 million have been fully separated and transferred from Alstom to the newly founded ARVOS Group, with Triton as new sole shareholder. This includes the transfer of its 1700 employees worldwide.

ARVOS will continue to be a major supplier to Alstom, ensuring sustainable quality of service for Alstom and its customers.

''Arvos has key assets to be a successful company in future, thus giving good prospects to all its employees,'' said Philippe Cochet, president of Alstom Thermal Power.

''We give them our best wishes, looking forward to continued strong cooperation and a mutually beneficial relationship as we serve our respective customers worldwide,'' he added.

Shares of the company gained Rs 4.15, or 0.8%, to trade at Rs 523.60. The total volume of shares traded was 1,581 at the BSE (9.37 a.m., Tuesday).