GE Vernova Inc. completed its acquisition of the remaining 50 percent stake of Prolec GE, its long-standing joint venture with Xignux, on February 2, 2026, for $5.275 billion. The transaction, first announced on October 21, 2025, closed following receipt of all required regulatory approvals, with the purchase funded through an equal mix of cash and debt (approximately $2.64 billion each). Prolec GE, headquartered in Mexico, is a leading grid equipment supplier producing transformers across most ratings and voltages, with approximately 10,000 employees across seven manufacturing sites in the Americas, including five in the United States. The joint venture was originally established between Xignux and General Electric in 1995, and the acquisition consolidates the business after 30 years of partnership. With closing, Prolec GE and its affiliates now operate under the GE Vernova name within the Electrification segment, GE Vernova's fastest-growing division, strengthening its presence in North America amid rising demand for grid technologies driven in part by data center growth. Current Prolec GE leadership has been retained, including CEO Ricardo Suarez, who continues to report to Electrification CEO Philippe Piron. GE Vernova, headquartered in Cambridge, Massachusetts, employs approximately 75,000 to 85,000 people across roughly 100 countries and operates Power, Wind, and Electrification segments. Xignux, based in Monterrey, Mexico, is a diversified conglomerate in the energy and food industries employing more than 33,000 people across Mexico, the United States, and Brazil. The transaction was reported by Reforma as the largest private transaction in Mexico's history. McCarthy Tétrault LLP advised GE Vernova on Canadian matters, including mergers and acquisitions, tax, international trade and investment, competition and foreign investment review, and intellectual property.