GE Vernova Completes Prolec GE Acquisition and $2.6B Senior Notes Offering

On Monday, February 2, 2026, we announced the completion of our acquisition of the remaining 50% stake of Prolec GE, our 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.

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.

As one company, we can offer a broader, more integrated grid product portfolio with greater scale and a more streamlined customer experience. Prolec GE will go to market as GE Vernova and operate within GE Vernova’s Electrification segment. The deal is immediately accretive before synergies and is expected to drive additional profitable growth for GE Vernova, which is now reflected in GE Vernova’s latest 2026 financial guidance and outlook by 2028.

In addition, we announced yesterday the completion of a $2.6 billion public offering of Senior Notes, our first debt issuance as a public company. The net proceeds from the offering are intended to be used for general corporate purposes, including financing a portion of the acquisition of the remaining fifty percent stake of Prolec GE.