XD Electric

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.
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One of XD Electric's circuit breakers
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<div style="text-align: left;"> One of XD Electric's circuit breakers </div>

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, and automation solutions.

“The transaction is a blueprint for future link-ups between multinationals that want to gain access to a vast and growing market, and Chinese companies that are moving up the...

¬ Haymarket Media Limited. All rights reserved.

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