GE Vernova Inc. has acquired the remaining 50% stake in Prolec GE for $5.275 billion, enhancing its operational capacity and product offerings in the North American electric industry following the completion of all regulatory approvals.

Information on the target

GE Vernova Inc. has successfully acquired the remaining 50% stake in Prolec GE, a prominent player in the electric industry in North America. This acquisition, valued at $5.275 billion, was finalized after obtaining all necessary regulatory approvals and is funded through a balanced mix of cash and debt. Prolec GE, which has been a joint venture with Xignux for three decades, boasts a workforce of approximately 10,000 employees across seven manufacturing sites in the Americas, including five located in the United States.

Prolec GE specializes in the production of a diverse range of transformers and transformer components essential for the generation, transmission, and distribution of electricity. Additionally, the company offers extensive transformer services, making it a key player in the electrification landscape. With this acquisition, GE Vernova aims to consolidate Prolec GE's operations and leverage its capabilities to enhance service delivery and operational efficiency.

Industry overview in the target’s specific country

The electric industry in the United States is undergoing significant transformation, driven by increasing demand for reliable and sustainable energy solutions. As the country transitions towards a greener economy, the need