Rolls-Royce has completed the sale of its Bergen Engines business to Langley Holdings plc for an enterprise value of €63m.
The completion of the transaction, which was announced on 3 August 2021, follows the conclusion of work to separate the business from the Group.
Sale proceeds of €91m from the transaction, together with €16m of cash held within Bergen Engines which has been retained by Rolls-Royce, will be used to help rebuild the Rolls-Royce balance sheet in support of its medium-term ambition to return to an investment grade credit profile.
In 2020, Bergen Engines generated revenues of approximately €200m.
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