GE Vernova Inc. has agreed to acquire the remaining 50 percent stake in Prolec GE, its joint venture with Xignux, for a total consideration of US$5.275 billion, to be funded equally with cash and debt. This transaction, expected to close by mid-2026 subject to regulatory approvals, will result in GE Vernova obtaining full ownership of Prolec GE, a leading grid equipment supplier with approximately 10,000 employees and seven manufacturing sites globally, including five in the United States. The acquisition is strategically significant as it accelerates growth in GE Vernova’s Electrification segment and strengthens its ability to serve the rapidly expanding North American grid market, which is experiencing heightened demand due to the proliferation of data centers and new energy policies. Prolec GE is projected to generate US$3 billion in revenue in 2025 with an adjusted EBITDA margin of about 25 percent and is expected to achieve low double-digit revenue growth in subsequent years. Morgan Stanley & Co. LLC acted as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as U.S. legal counsel to GE Vernova, with McCarthy Tétrault LLP serving as Canadian legal counsel. J.P. Morgan Securities LLC advised Xignux, with Sidley Austin LLP as U.S. legal counsel and Galicia Abogados, S.C. as Mexican legal counsel. BMA Advogados provided legal advice in Brazil.