Rolls-Royce ends subsidiary sale talks

Rolls-Royce’s discussions to sell its aircraft and engine components subsidiary ITP Aero have ended without a deal.

Spanish defence systems company Indra had approached Rolls-Royce with an offer to buy a majority stake in its ITP Aero business.

But the negotiations that followed Indra’s “preliminary and conditional indication of interest” have finished.

ITP is currently the ninth largest aircraft engine and components company in the world by revenue. It is headquartered in Spain and has three of its 11 global sites in the UK – in Lincoln, Whetstone and Rugby.

In a statement to the stock market, Rolls-Royce confirmed there was no agreement and “ITP Aero will remain a separately reported business segment and a core part of Rolls-Royce”.

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