Rolls-Royce makes progress on selling Bergen Engines, ITP Aero janes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from janes.com Daily Mail and Mail on Sunday newspapers.
Rolls-Royce to sell engine division for £53m - after earlier Russia deal blocked on security grounds
Previous deal to sell business to Russian-based TMH Group for 150m euros was blocked last spring
09:50, 4 AUG 2021
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Rolls-Royce advances one potential divestiture, pauses another
15 March 2021
by Marc Selinger
Rolls-Royce is making progress on the potential sale of Spanish subsidiary Industria de Turbo Propulsores (ITP Aero), but has hit a snag with its proposed divestiture of Norway-based Bergen Engines, according to the British engine manufacturer.
Rolls-Royce is discussing ITP Aero with potential buyers. (ITP Aero)
Rolls-Royce, which announced the Bergen sale in early February, said on 11 March that it has “temporarily paused” the transaction at the request of the Norwegian government, which is considering blocking the proposed EUR150 million (USD179.7 million) deal due to national security concerns.
Bergen makes medium-speed gas and diesel engines for marine and power generation customers, with a small number of its engines used in naval applications. The buyer, TMH International, is part of Russia-based TMH Group.