PRESS: Rolls-Royce restarts Bergen sale process after Norway veto

(Alliance News) - Rolls-Royce Holdings PLC has restarted the auction of its Bergen Engines unit ...

Alliance News 7 May, 2021 | 8:18PM
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(Alliance News) - Rolls-Royce Holdings PLC has restarted the auction of its Bergen Engines unit after the Norwegian government blocked the sale on national security concerns, Sky News reported on Friday.

Sky has learnt that the jet engine maker has asked potential bidders to table indicative offers later this month in a fresh push to divest the business.

Rolls-Royce back in March vowed to "swiftly find another option" after the Norwegian government put the brakes on the proposed sale of the Bergen unit.

Norway's army is among Bergen's customers. Rolls-Royce announced in early February that it would sell Bergen for EUR150 million to TMH Group, a privately owned company headquartered in Russia that makes locomotives and rail equipment.

Shares in Rolls-Royce closed up 3.2% at 106.74 pence in London on Friday.

By Lucy Heming;

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rolls-Royce Holdings PLC 109.26 GBX 1.62

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