Rolls-Royce has completed the sale of its civil nuclear instrumentation & control (I&C) business to Framatome.
The completion of the transaction, which was first announced on 7 December 2020, follows recent clearance from the relevant regulatory authorities.
The proceeds received by Rolls-Royce contribute towards its target to generate at least £2bn from disposals, as announced last year, and will be used to help strengthen the Rolls-Royce balance sheet in support of the company’s medium term ambition to return to an investment grade credit profile.
The I&C business, which in 2020 reported revenues of £74m, includes all the Rolls-Royce activities and teams based in Grenoble (France), Prague (Czech Republic), Beijing and Shenzhen (China).
No UK-based employees are impacted as this agreement does not include Rolls-Royce’s UK civil nuclear business, or small modular reactor activities, which will continue contributing to the provision of low carbon power for the UK.
