General Electric

On April 2, 2024, General Electric Company completed the spin-off of GE Vernova Inc. (energy: power, wind, electrification -- distributed 1 GE Vernova share per 4 GE shares held) and the remaining company began operating as GE Aerospace. This was the final step of a multi-year portfolio separation that earlier spun off GE HealthCare Technologies Inc. on January 4, 2023 (1 GE HealthCare share per 3 GE shares held). GE Vernova and GE HealthCare are independent public companies outside the aerospace/defense/space domain and are not modeled as separate organizations in this database. DATA NOTE: This organization row's label remains "General Electric" though "GE Aerospace" and "GE HealthCare" are both already present as entity_alias entries on this org_id -- a data steward should review updating the canonical label to "GE Aerospace" and reconciling the GE HealthCare alias, which represents a now-distinct legal entity. Confirmed via GE Aerospace/GE Vernova official press releases and SEC Form 8-K filings.

General Electric agreed in Dec 2012 to acquire the aviation (aircraft-engine components) division of Italy's Avio S.p.A.; the deal closed Aug 1, 2013 for EUR3.3 billion, becoming GE Avio Aero (part of GE Aerospace). Avio's space/launcher division (Vega rocket prime contractor, Ariane subcontractor) was not part of the sale and continued as the independent Avio S.p.A., owned by Cinven and Leonardo.