Alstom UK Holdings Ltd. signed an agreement to acquire Tidal Generation Limited from Rolls Royce Holdings plc (LSE:RR.) on September 25, 2012. The deal is funded from a capital increase in Alstom SA of €350 million (£279.18 million). For the year ended December 31, 2011, Tidal Generation Limited reported gross assets of £10.6 million. The transaction is subject to closing conditions and is expected to complete within the next few months. Pinsent Masons acted as legal advisor for Alstom. Ernst & Young UK, Investment Banking Arm acted as the financial advisor to Rolls Royce Holdings plc. The currency conversion was done through www.oanda.com as on September 25, 2012..

Alstom UK Holdings Ltd. completed the acquisition of Tidal Generation Limited from Rolls Royce Holdings plc (LSE:RR.) for £16 million on January 29, 2013. Under the terms, an initial payment of £16 million is made and the remainder of the price will be based on the achievement of technical milestones and paid by the end of June, 2014. As its consolidation did not have a material impact on the consolidated financial statement at March 31, 2013, Tidal Generation Limited will be consolidated from April 1, 2013.