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Greenberg Traurig Attorneys Represent Prolec GE Transformers, Inc., in Financing Transactions Related to its $645M Acquisition of SPX Transformer Solutions, Inc.

NEW YORK – Oct. 8, 2021 – A team of attorneys from global law firm Greenberg Traurig, LLP represented Prolec GE Transformers, Inc., Prolec GE USA LLC and Prolec-GE Internacional, S. de R.L. de C.V. in the financing of the $645 million acquisition of SPX Transformer Solutions, Inc., a U.S. based technology company.

Prolec GE Transformers, Inc. is an equally owned joint venture of GE (NYSE: GE) and Mexico-based holding company Xignux S.A. de C.V.

The financing consisted of two transactions for an aggregate amount of US$670,000,000. It included a syndicated loan facility for an aggregate amount of US$370 million with Scotiabank (The Bank of Nova Scotia), as administrative agent, and a private placement of notes to institutional investors for an aggregate amount of US$300,000,000. The loan was structured to comply with sustainability key performance indicators (KPIs) with respect to Hazardous Waste Generation and Women in the Workforce.

Prolec GE designs and provides solutions for the generation, transmission, and distribution of electrical energy. With more than 50 years’ experience in the industry, Prolec GE is an important player in the Americas with business units in Mexico, the United States and Brazil. It has an installed base in more than 35 countries and employs more than 8,000 people.

Marc M. Rossell, a shareholder in Greenberg Traurig’s Corporate Practice and co-chair of the firm’s Latin America Practice and Corporate Shareholder Oscar Stephens led the Greenberg Traurig New York office attorney team that included Tax Shareholder Erez I. Tucner and Associate Mirae Park, Corporate Associate Jack Sztrigler and Law Clerk/JD Sean O’Bryan. 

About Greenberg Traurig's Latin America Practice: Greenberg Traurig’s award-winning Latin America Practice draws on resources from our offices in Chicago, Houston, Los Angeles, Mexico City, Miami, New York, Washington D.C., and elsewhere around the world, bringing together a multidisciplinary team of more than 120 lawyers to help clients identify and capitalize on business opportunities in Latin America, the Iberian Peninsula, and the Caribbean. As the only global law firm founded in Miami, Greenberg Traurig is inextricably linked to Latin America. Since its beginning, GT has represented many of the family enterprises that are today among Latin America’s largest companies. By addressing real-world problems for clients on a regular basis, our team has developed a breadth of experience that sets us apart.

About Greenberg Traurig: Greenberg Traurig, LLP (GT) has approximately 2300 attorneys in 40 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. The firm is net carbon neutral with respect to its office energy usage and Mansfield Rule 4.0 Plus Certified. Web: