Thursday, December 12, 2024

Rolls-Royce completes sale of Bergen Engines

Manufacturing
Updated:
shutterstock.com/EDHAR

Rolls-Royce has completed the sale of its Bergen Engines business to Langley Holdings plc for an enterprise value of €63m.

The completion of the transaction, which was announced on 3 August 2021, 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 its medium-term ambition to return to an investment grade credit profile.

In 2020, Bergen Engines generated revenues of approximately €200m.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

ABOUT US

We offer an exciting opportunity in the East Midlands for companies to plan innovative advertising campaigns alongside consistently excellent reporting. Our newsletters are sent directly chief executives, chairmen, managing directors and senior managers across the East Midlands. We also reflect on the importance of SMEs, with numerous companies from all sectors – from manufacturing to technology – benefiting from our mix of news and features. If you’re in business, East Midlands Business Link is for you.

Contact us: sales@blmgroup.co.uk

FOLLOW US

© Copyright 2024 - East Midlands Business Link

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close