Rolls-Royce in talks to sell stake in Spanish subsidiary

Rolls-Royce has confirmed that it has been approached by Spanish firm Indra, with interest in acquiring a majority stake in ITP Aero, its Spanish aeronautical engine and gas turbine manufacturing subsidiary.

ITP Aero has four sites in England, in York, Lincoln, Leicester and Rugby.

In a statement Rolls-Royce said: “Rolls-Royce notes the recent press speculation and confirms that it has received a preliminary and conditional indication of interest from Indra to acquire a majority stake in ITP Aero.

“This indication of interest is subject to a number of conditions. There is no certainty that this will result in a transaction involving ITP Aero.

“ITP Aero is a key partner for Rolls-Royce, and Rolls-Royce intends to retain a long-term relationship with the business across its Civil Aerospace and Defence programmes.

“Any further announcement will be made as appropriate.”