Engine manufacturer Rolls-Royce is set to take full control of the joint venture that was Rolls-Royce Power Systems after the company agreed to acquire the remaining 50% share holding from former partner, Daimler AG.
Rolls-Royce will acquire the shares from Daimler, which has been in a 50-50 joint venture partner in RRPS since 2011. The option, which is subject to a formal valuation process, was valued at £1.9bn on the Rolls-Royce balance sheet at Dec 31st 2013. RRPS, which previously operated as Tognum AG, is a maker of reciprocating engines. It is…
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