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.