Rolls-Royce in constructive talks over ITP Aero sale
Rolls-Royce is eyeing £2bn in disposals after seeing its finances devastated by the pandemic. (AFP via Getty Images)
Rolls-Royce this afternoon hit back at claims that the sale of one of its Spanish subsidiaries could be blocked, saying it was in “constructive talks” with authorities over the issues.
The FTSE 100 engine maker is in the process of selling off £2bn worth of assets in a bid to fix its finances after the coronavirus pandemic.
ITP Aero, which makes engines, was slated to be at the core of the disposal programme, with Rolls-Royce looking to raise €1.5bn from the sale.
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Will the Rolls-Royce share price bounceback in 2021?
More on:
With a 12% fall in the
Rolls Royce (LSE: RR) share price in the past three weeks, this question comes up yet again. The Rolls-Royce share price has seen plenty of ups and downs in the past year (though it’s up almost 9.5% over 12 months) given the company’s heightened sensitivity related to all sorts of developments from vaccines to its own finances.
Why did the share price fall?
The Rolls-Royce share price fall coincided with the Norwegian government stopping the sale of its marine engines manufacturer,
Bergen Engines, to a Russian company.