(PRESS RELEASE) LONDON, 4-Jan-2022 — /EuropaWire/ — Rolls-Royce (LSE:RR., ADR:RYCEY), the pre-eminent engineering company with focus on world-class power and propulsion systems, has announced the completion of the divestment of Bergen Engines, a diesel and gas engine manufacturer based in Bergen, Norway, to Langley Holdings plc, a family-owned, globally operating, multi-disciplined engineering and industrial manufacturing concern, for EUR 63 million. Originally announced on 3 August 2021, the transaction follows the conclusion of work to separate the business from the Group.
Sale proceeds of €91m from the transaction, together with €16m of cash held within Bergen Engines which has been retained by Rolls-Royce, will be used to help rebuild the Rolls-Royce balance sheet in support of our medium-term ambition to return to an investment grade credit profile. In 2020, Bergen Engines generated revenues of approximately €200m with the assets and liabilities of the business presented as held for sale in the Rolls-Royce Holdings plc consolidated balance sheet.
About Rolls-Royce Holdings plc
Media contact:
Richard Wray
Director of External Communications
richard.wray@rolls-royce.com
SOURCE: Rolls-Royce plc
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