# Dussur sells 55% stake in GE Saudi for Advanced Turbines to GE Vernova

Saudi Arabian Industrial Investments Company (Dussur) sold its entire 55% stake in General Electric Saudi for Advanced Turbines (GESAT), a gas turbine manufacturing joint venture, to GE Vernova Inc. The deal was announced on September 5, 2024.

- Type: Acquisition
- Announced: 2024-09-01
- Where: Dammam, Saudi Arabia
- Status: completed
- Products: gas turbine modules
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [GE Vernova](https://endata.com/companies/2947.md) (acquirer)
- [Dussur](https://endata.com/companies/5271.md) (partner)
- [Dussur](https://endata.com/companies/5271.md) (target)
- [General Electric Saudi Advanced Turbines](https://endata.com/companies/30645.md) (target)
- [General Electric Saudi for Advanced Turbines](https://endata.com/companies/79536.md) (target)
- [Saudi Arabian Industrial Investments Co. (Dussur)](https://endata.com/companies/79639.md) (partner)
- [General Electric Saudi Advanced Turbines (GESAT)](https://endata.com/companies/79640.md) (target)

## Sources

- [kirkland.com](https://www.kirkland.com/news/press-release/2024/09/kirkland-advises-dussur-on-sale-of-entire-stake-in-general-electric-saudi-for-advanced-turbines), 2024-09-01: "Kirkland & Ellis advised the Saudi Arabian Industrial Investments Company (Dussur)...on the sale of its entire 55% stake in General Electric Saudi for Advanced Turbines...to GE Vernova Inc."
- [gevernova.com](https://www.gevernova.com/news/press-releases/ge-vernova-acquires-dussur-shares-general-electric-saudi-advanced-turbines-gesat), 2024-09-02: "Dussur successfully divested its 55% ownership stake in General Electric Saudi Advanced Turbines to GE Vernova"
- [energymea.economictimes.indiatimes.com](https://energymea.economictimes.indiatimes.com/news/technology/ge-vernova-buys-remaining-stake-in-saudi-jv-from-dussur/113017155), 2024-09-03: "U.S. power equipment maker GE Vernova said on Monday it has acquired the remaining ownership stake in a Saudi gas turbine producing joint venture from state-owned Dussur."
- [vccircle.com](https://www.vccircle.com/saudipif-backed-dussur-sells-stake-in-jv-to-ge-vernova), 2024-09-03: "U.S. power equipment maker GE Vernova said on Monday it has acquired the remaining ownership stake in a Saudi gas turbine producing joint venture from state-owned Dussur."
- [turbomachinerymag.com](https://www.turbomachinerymag.com/view/ge-vernova-absorbs-dussur-s-stakes-in-gesat-joint-venture), 2024-09-05: "Dussur's investment policy is to enter partnerships that establish transformational industries that the Kingdom needs or support its supply chains."
- [akm.ru](https://www.akm.ru/eng/news/ge-vernova-acquired-55-of-jv-shares-from-saudi-dussur/), 2024-10-04: "After acquiring 55% owned by Dussur in the joint venture, GE Vernova will become the sole owner of General Electric Saudi Advanced Turbines (GESAT)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.