Rolls-Royce has signed an agreement to sell its Bergen Engines business to global engineering group Langley Holdings for an enterprise value of €63m.
The deal is part of the aircraft engine-maker’s plan to generate at least £2bn from disposals. Sale proceeds of €70m from the transaction together with €40m of cash currently held within Bergen Engines, which Rolls will keep, will be used to help rebuild the company’s balance sheet.
Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from existing cash reserves.
