GE announces filing of Form 10 registration statement for planned spin-off of GE Vernova
GE Vernova to Become Standalone Public Company
Key Points:
- GE Vernova set to spin-off in early April following strong 2023 results and continued momentum.
- GE's strong financial position supports the formation of GE Vernova and GE Aerospace as well-capitalized, investment-grade companies.
- GE Vernova poised for multi-decade growth driven by the energy transition.
Highlights from Form 10:
- Purpose-built company driving electrification and decarbonization, serving 20% of a $1.4 trillion market.
- Global leader in electric power industry with over 80,000 employees and $1 billion R&D investments.
- Organized into Power, Wind, and Electrification segments, supported by Accelerator businesses.
Additional Information:
- Expected to list on NYSE under ticker symbol "GEV."
- Planned spin-off intended to be tax-free for GE and shareholders.
- Investor days scheduled for March 6 and March 7 in New York, NY.
Forward-looking Statements:
- This document includes forward-looking statements regarding future events, which inherently involve uncertainties. Factors such as the success of planned transactions, changes in market conditions, and capital allocation plans may affect actual results. For further details on these uncertainties, please refer to our SEC filings and the provided link. We do not commit to updating our forward-looking statements
