In my inbox today:

$GE (+0.91%) GE divests GE Vernova

GE announces the filing of the registration statement on Form 10 for the proposed spin-off of GE Vernova

GE Vernova, a global leader driving electrification and decarbonization, will become a standalone public company

GE Vernova is well positioned for decades of growth driven by the energy transition

Latest milestone: GE Vernova prepares for spin-off in early April following strong 2023 results and continued momentum

GE's financial position is strong and supports the development of GE Vernova and GE Aerospace as well-capitalized, investment-grade companies

(WK internal) - BOSTON - GE (NYSE:GE) today announced the filing of its Form 10 registration statement with the U.S. Securities and Exchange Commission ("SEC") for the proposed spin-off of GE Vernova.

A copy of the Form 10 is available on the SEC's website at www.sec.gov.

H. Lawrence Culp, Jr, Chairman and CEO of GE and CEO of GE Aerospace, said, "Today's filing underscores GE Vernova's important progress toward its spin-off as an independent, global leader driving electrification and decarbonization." Our financial position is strong to support the development of GE Vernova and GE Aerospace as well-capitalized, investment-grade companies, and we look forward to introducing them to the world in early April."

Scott Strazik, CEO of GE Vernova, said: "GE Vernova is a purpose-built company serving the energy industry with a unique scope and scale of solutions to create a more sustainable world." Today's milestone demonstrates the significant progress our teams have made in preparing GE Vernova to launch as a standalone company and shows how we will capitalize on the growing demand for products and services for the energy transition. Our momentum continues to build with this latest milestone as we approach our spin-off."

Source:

Windkraft Journal

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