Business
GE Vernova Completes Prolec GE Acquisition, Accelerating Electrification Segment Growth Trajectory
CAMBRIDGE, Mass., February 02, 2026--GE Vernova Inc. (NYSE: GEV) today announced it has completed the acquisition of the remaining 50% stake of Prolec GE, its former unconsolidated joint venture with Xignux ("Prolec GE"). The transaction, originally announced in October 2025, closed following receipt of all required regulatory approvals, for a purchase price of $5.275 billion, funded as previously disclosed with an equal mix of cash and debt.
About this update from Ge Vernova Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Milestone further positions GE Vernova as a global leader serving growing grid markets by expanding its presence and support in North America.","length":142,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Prolec GE and its affiliates will go to market as GE Vernova, operating within the Electrification segment","length":106,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Transaction is immediately accretive and now reflected in GE Vernova’s latest 2026 financial guidance and outlook by 2028","length":121,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":369,"olType":false},{"type":"text","content":"CAMBRIDGE, Mass., February 02, 2026--(BUSINESS WIRE)--GE Vernova Inc. (NYSE: GEV) today announced it has completed the acquisition of the remaining 50% stake of Prolec GE, its former unconsolidated joint venture with Xignux ("Prolec GE"). The transaction, originally announced in October 2025, closed following receipt of all required regulatory approvals, for a purchase price of $5.275 billion, funded as previously disclosed with an equal mix of cash and debt.","length":473,"tagName":"p"},{"type":"text","content":"Prolec GE is an electric industry leader in North America, with approximately 10,000 employees across seven manufacturing sites in the Americas, including five in the U.S. It produces a wide variety of transformers and transformer components for the generation, transmission and distribution of electricity, complemented by its broad transformer services offering. This acquisition consolidates Prolec GE after 30 years of partnership as a joint venture.","length":454,"tagName":"p"},{"type":"text","content":""We’re excited to reach this important milestone with our first sizable acquisition as a standalone public company and welcome the Prolec GE team into GE Vernova," said GE Vernova CEO Scott Strazik. "We are building on a decades-long partnership and combining the strengths of our two companies to offer customers a broader portfolio and operate at a higher capacity to fulfill expectations, especially in North America where grid demand is strong. As we continue to focus on our mission to electrify to thrive and decarbonize the world, this acquisition will play a critical role in driving our sustained growth in Elect...