leadf
logo-loader
viewRolls-Royce Holdings PLC

Rolls-Royce sells part of nuclear business to French engineer

In the past couple of months, the FTSE 100 group has drummed up £4bn via a discounted rights issue and an issue of bonds

Rolls-Royce Holdings PLC -

Rolls-Royce Holdings PLC (LON:RR.) has agreed to sell its civil nuclear instrumentation and control business for an undisclosed sum.

I&C, which contributed revenues of €94mln last year to the group’s power systems division, has been sold to France’s Framatome.

Rolls said its UK civil nuclear business, or small modular reactor activities, are not being sold.

“This transaction marks a further simplification of our business and contributes towards our target to generate over £2bn from disposals,” Rolls-Royce chief executive Warren East said in the statement.

The engine maker is still looking to bolster its finances after its civil aircraft aftermarket business was flattened by the lack of travel due to the coronavirus pandemic.

In the past couple of months, the FTSE 100 group has drummed up £4bn via a discounted rights issue and an issue of bonds.

Rolls, which expects the I&C deal to be completed “at the beginning of the second half 2021”, has also put Spanish business ITP Aero on the block, plus other smaller units.

Quick facts: Rolls-Royce Holdings PLC

Price: 114.413 GBX

LSE:RR.
Market: LSE
Market Cap: £9.57 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Diversified Gas & Oil reveal 'positive results all around' in 2020 thanks to...

Diversified Gas & Oil PLC's (LON:DGOC) CEO Rusty Hutson talks to Proactive London's Katie Pilbeam about their 'resilience' shown in 2020 performance. Despite the volatile environment of 2020, Hutson highlights their value-accretive growth, operational excellence, cost discipline, and risk...

27 minutes ago

2 min read