GE Vernova to Fully Acquire Prolec GE Joint Venture
Acquiring the remaining 50% stake of the joint venture from Xignux; a highly attractive, accretive acquisition of a leading grid equipment supplier
Accelerates growth for GE Vernova's Electrification segment, the company's fastest-growing segment, while strengthening its ability to serve customers, especially in North America
Prolec GE expects $3B in revenue at ~25% adjusted EBITDA margin* in 2025 with low double-digit revenue growth in the coming years
$5.275B purchase price at closing, expected to be funded equally with cash & debt
GE Vernova Inc. (NYSE:GEV) today announced that GE Vernova will acquire the remaining fifty percent stake of Prolec GE, its unconsolidated joint v
