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4 August 2021 | 07:14am StockMarketWire.com - Aerospace engineer Rolls-Royce said it had agreed to sell its Bergen Engines medium-speed liquid fuel and gas engines business to Langley for €63 million, including debt. Rolls-Royce said the sale was part of ongoing portfolio management efforts to create a more focused group and followed a strategic review of Bergen Engines. It contributes towards our target to generate at least £2 billion from disposals, as announced last year, the company said. Sale proceeds of €70 million from the transaction, together with €40 million of cash currently held within Bergen Engines, would be used to help rebuild the Rolls-Royce balance sheet. ....
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. ....
Robinhood shares surge 60pc on IPO price Vlad Tenev and Baiju Bhatt, co-founders of Robinhood, attend their company s IPO at the Nasdaq in New York s Times Square Credit: BRENDAN MCDERMID /Reuters Shares in stock trading app Robinhood skyrocketed as much as 80pc in early trading on Tuesday, forcing US markets to halt buying amid fears of another speculative bubble, reports my colleague Matthew Field. After listing last Thursday at a valuation of around $32bn, shares in Robinhood slipped on their first day of trading. But the company has since surged to a market cap of over $50bn. Its shares jumped as high as $85, up from their float price of $38. ....
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 Updated BusinessLive - East Midlands - the latest news, views and analysis direct every morningInvalid EmailSomething went wrong, please try again later. Subscribe We use your sign-up to provide content in ways you ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time.More info Thank you for subscribingWe have more newslettersShow meSee ourprivacy notice ....
TOP NEWS SUMMARY: Strong PMIs in Europe but Australia suffers setback Wed, 4th Aug 2021 10:50 (Alliance News) - The following is a summary of top news stories Wednesday. COMPANIES Spain s top football league said it has agreed in principle to sell 10% of its business to private equity firm CVC Capital Partners for EUR2.7 billion to help finance its long-term growth plans. The deal for the ownership stake, the first of its type by a major European league, values La Liga at around EUR24.2 billion, the league said in a statement. Legal & General revealed earnings well above pre-virus levels in a strong first half. The 185-year old insurer posted operating profit of GBP1.08 billion for the first half of 2021, up 14% on a year ago, and earnings per share of 17.78p, up sharply on the 4.89p achieved a year ago and 21% higher than 2019. We remain confident in achieving our five-year cumulative financial ambitions. In the first half of 2021, we continued to build on ....