The American GE Vernova Inc. has entered into an agreement to acquire the remaining 50% of the shares of the Mexican joint venture Prolec GE. This is reported in a press release from GE Vernova.
According to the terms of the deal, GE Vernova will pay $5.3 billion at the closing of the transaction using cash and debt obligations. The transaction is expected to be completed in mid-2026, subject to the necessary regulatory approvals.
The acquisition of a 100% stake in the Prolec joint venture, founded by the Mexican energy company Xignux S.A. de C.V., and the American General Electric, will strengthen GE Vernova's position in the electric grid markets and accelerate the development of the network technology segment by expanding its presence in North America amid rising demand for electricity.
The deal is in line with GE Vernova's strategy to implement investment projects in Mexico and other areas in North America, with the aim of further developing the region. Prolec GE has invested $300 million in capacity expansion and innovation in the United States and Mexico, including $140 million in a facility in Goldsboro, North Carolina.
Prolec GE is a Mexican manufacturer of network equipment, including transformers of various ratings and voltages for the generation, transmission and distribution of electricity. The company holds 14% of the transformer market in North America. The company employs 10,000 people at seven production sites, including five in the United States and two in India. The headquarters is located in Apodaca (Nuevo Leon, Mexico).
GE Vernova, Inc. is a power equipment and service company headquartered in Cambridge, Massachusetts. GE Vernova was founded as part of the spin-off of General Electric's energy divisions in 2024.
Xignux is a Mexican energy company. Xignux is engaged in the production, sale and export of goods and services for food markets, as well as for the infrastructure and electricity sectors in 40 countries. In the energy sector, Xignux is represented by Viakable, Prolec and Voltrak, and in the food industry sector by Qualtia and BYDSA. The headquarters is located in San Pedro Garza Garcia (Mexico).
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