Roll-Royce is a well-versed British engineering company. Its Norwegian maritime engine unit Bergen is back on the block. And also, this happened in less than two months after Norway blocked a previous deal for it to be bought by a Russian company.
The sale process has also restarted now. Norway had already stopped Rolls-Royce from selling Bergen for 150 million euros to a company controlled by Russia’s TMH Group on national security grounds. This took place in regard to the blow to the British company’s disposal program.
By 2022, Rolls-Royce is aiming to raise 2 billion pounds ($2.82 billion) from disposals. This is as a part of plans to repair finances which have been battered by the pandemic, as airlines stopped flying during the pandemic.
The sale of Bergen is now underway at the same time as the sale of Rolls’s Spanish unit ITP Aero. The company is now hoping that it will go for up to 1.5 billion euros. Rolls-Royce could provide more details of the two sale processes.