GE Vernova to Fully Acquire Prolec GE Joint Venture for US$5.275B

On October 21, 2025, GE Vernova Inc. announced that it entered into definitive agreements to acquire the remaining 50% stake of Prolec GE, its joint venture with Xignux, for US$5.275 billion. The acquisition further positions GE Vernova as a global leader serving growing grid markets. The deal will accelerate GE Vernova's Electrification segment’s growth trajectory, the company's fastest-growing segment, by expanding its presence in and support for North America. The closing of the transaction is subject to regulatory approvals and other closing conditions.

Prolec GE is a leading grid equipment supplier, producing transformers across most ratings and voltages with approximately 10,000 global employees across seven manufacturing sites globally. The joint venture was originally established between Xignux and General Electric (GE) in 1995, and this acquisition consolidates Prolec GE after 30 years of partnership.

GE Vernova is a purpose-built global energy company that includes Power, Wind, and Electrification segments. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova has approximately 75,000 employees across approximately 100 countries around the world.

Xignux is a leader in the energy and food industries. Based in Monterrey, México, has more than 33,000 employees in México, the United States, and Brazil.

McCarthy Tétrault is advising GE Vernova on Canadian matters with a team led by Pavan Jawanda and Claire Sung, that includes Benjamin Rivard, Emma Good (Mergers & Acquisitions), Drew Morier, Camille Belanger (Tax), Martha Harrison, Oksana Migitko (International Trade & Investment), Oliver Borgers (Competition/Antitrust & Foreign Investment), Vincent Yip (IP), Emily Bawtinheimer, Sandra Belton, and Isabel Gonzales (Paralegals).