Rolls-Royce Holdings PLC announced Wednesday that it has agreed to sell its Bergen Engines medium speed liquid fuel and gas engines business to Retford-headquartered global engineering group Langley Holdings for an enterprise value of around £53.6m.
Langley is funding the deal, together with working capital requirements for Rolls-Royce’s Bergen business going forward, from existing cash reserves. Rolls-Royce has agreed the sale of Bergen as part of its ongoing portfolio management to create a more focused group, contributing towards its target to generate at least £2bn from disposals, as announced last year.…
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