SPX Corporation Completes Sale of Transformer Solutions to GE-Prolec

SPX Corporation completed the sale of its subsidiary SPX Transformer Solutions, Inc. to GE-Prolec Transformers, Inc. for $645 million in cash. The transaction was previously announced and closed on October 1, 2021.

“On October 1, 2021, SPX Corporation (the “Company”) completed the previously announced sale of SPX Transformer Solutions, Inc. (“Transformer Solutions”) pursuant to the terms of the Stock Purchase Agreement dated June 8, 2021 (the “Purchase Agreement”) with GE-Prolec Transformers, Inc. (the “Purchaser”) and Prolec GE Internacional, S. de R.L. de C.V. (the “Guarantor”). The Company has agreed to transfer all of the outstanding common stock of Transformer Solutions to the Purchaser for an aggregate cash purchase price of $645 million (the “Transaction”).”

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