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UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION On October 1, 2021, SPX Corporation completed its previously announced sale of SPX Transformer... | October 7, 2021
GE-Prolec Transformers and Xignux, a Mexico-based private company, said they have completed the acquisition of SPX Corporation’s SPX Transformer Solutions business for a contract purchase price of $645 million.
Prolec GE completes acquisition of SPX’s Transformer Solutions business
SPX To Sell SPX Transformer Solutions To GE-Prolec Transformers For $645 Mln Cash FAIRFIELD (dpa-AFX) - SPX Corp. announced Wednesday that it has entered into a binding agreement to sell 100% of the issued and outstanding stock of its wholly-owned subsidiary, SPX Transformer Solutions, Inc., to GE-Prolec Transformers, Inc., a subsidiary of a joint venture between General Electric Co. (GE) and Xignux S.A. de C.V. for a cash purchase price of $645 million. SPX anticipates that after taxes on a gain from the sale, net proceeds will be approximately $540 million. The purchase price is subject to ...