GE Vernova Announces Acquisition of Remaining 50% of Prolec GE Joint Venture
GE Vernova (GEV) announced the acquisition of the remaining 50% of the Prolec GE joint venture from Xignux for $5.275 billion, to be funded 50% with cash and 50% with debt. The deal is expected to close by mid-2026 and is expected to be immediately accretive to EBITDA. The acquisition aims to strengthen GE Vernova's grid equipment capabilities, particularly in transformers, and aligns with its strategic and financial objectives.
Tickers: $GEV
Topics: acquisition financial strategy GE Vernova M&A Prolec GE