Sidley advised Xignux, a Monterrey, México-based leader in the energy and food industries, in connection with the US$5.275 billion sale to GE Vernova Inc. (NYSE: GEV) of its remaining fifty percent stake of Prolec GE, its joint venture with GE Vernova Inc., which was originally established in 1995. The deal reportedly marks the largest private transaction in México’s history, as reported by Reforma.
The sale will allow Xignux, which employs more than 33,000 people in México, the United States, and Brazil, to further invest in innovation, technology, and the expansion of its North American presence.
The Sidley team was led by Alyssa A. Grikscheit (Investment Funds and M&A) and Eduardo Marquez Certucha (Energy and Infrastructure), and supported by Mo Green (Private Equity), and Jessica Day (M&A).
Xignux received advice on legal matters from their in-house counsels Oscar Martinez Treviño, Teresa Villarreal Torres, and Federico de la Torre Herrera; with Creel, García-Cuéllar, Aiza y Enríquez, and Santos-Elizondo, providing local counsel in México, and Pinheiro Neto Advogados providing local counsel in Brazil; and on financial matters by J.P. Morgan Securities LLC.
