REG - Rolls-Royce Holdings - ROLLS-ROYCE COMPLETES SALE OF BERGEN ENGINES

Rolls-Royce HoldingsAnnouncement

04/01/2022 07:00

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RNS Number : 2502X  Rolls-Royce Holdings plc  04 January 2022

4 January 2022

 

ROLLS-ROYCE COMPLETES SALE OF BERGEN ENGINES

 

Rolls-Royce (LSE:RR., ADR:RYCEY) announces the completion of the sale of our
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 our
medium-term ambition to return to an investment grade credit profile. In 2020,
Bergen Engines generated revenues of approximately €200m with the assets and
liabilities of the business presented as held for sale in the Rolls-Royce
Holdings plc consolidated balance sheet.

 

For further information, please contact:

 
Media

Richard Wray

Director of External Communications & Brand, Rolls-Royce plc

Tel +44 (0) 7810 850055

Richard.Wray@Rolls-Royce.com

 

Investors

Isabel Green

Head of Investor Relations, Rolls-Royce plc

Tel +44 (0) 7880 160976

Isabel.Green@Rolls-Royce.com

 

www.rolls-royce.com (http://www.rolls-royce.com)

 

About Rolls-Royce Holdings plc

 

1.   Rolls-Royce pioneers the power that matters to connect, power and
protect society. We have pledged to achieve net zero greenhouse gas emissions
in our operations by 2030 (excluding product testing) and joined the UN Race
to Zero campaign in 2020, affirming our ambition to play a fundamental role in
enabling the sectors in which we operate achieve net zero carbon by 2050.

2.   Rolls-Royce has customers in more than 150 countries, comprising more
than 400 airlines and leasing customers, 160 armed forces and navies, and more
than 5,000 power and nuclear customers.

3.   Annual underlying revenue was £11.76 billion in 2020 and we invested
£1.25 billion on research and development. We also support a global network
of 28 University Technology Centres, which position Rolls-Royce engineers at
the forefront of scientific research.

4.     Rolls-Royce Holdings plc is publicly traded company (LSE: RR., ADR:
RYCEY, LEI: 213800EC7997ZBLZJH69)

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