By David Kaminski-Morrow2021-08-04T07:23:00+01:00
Rolls-Royce is progressing with its strategy to raise some £2 billion from divestments, having agreed to sell a non-core Norwegian gas and diesel powerplant business to engineering group Langley Holdings.
The sale of Bergen Engines – which has strong links to Kongsberg Maritime – has been achieved five months after the Norwegian government interrupted a previous planned sale to TMH Group.
Norway’s government blocked the sale at the end of March this year over TMH Group’s links with Russian entities, citing the need to ensure that national security interests were not threatened.
It pointed out that the technology in Bergen Engines’ possession would have “great military strategic significance” to Russia and would strengthen Russia’s military capabilities.