GE seals power sector alliance with China's XD Electric

GE takes a 15% equity stake in China's XD Electric and the two companies form a joint-venture.

GE seals power sector alliance with China's XD Electric

GE is forming an alliance with China’s XD Electric Group in a deal that combines the US conglomerate’s electrical grid solutions and distribution capabilities with the Shanghai-listed firm’s equipment technology and large home market.

The global partnership has two aspects. GE will pay Rmb3.38 billion $535 million for a 15% stake in the Xian-based manufacturer of electricity transformers and breakers, and will also form a joint venture with XD to develop transmission and distribution,...

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