Rolls-Royce confirms approach for Spanish subsidiary

Rolls-Royce has revealed that it has received an approach from Spanish information technology and defence systems company Indra to buy a majority stake in its ITP Aero business.

ITP, the Spanish subsidiary of Rolls-Royce and currently the ninth largest aircraft engine and components company in the world by revenue, has operations in the UK including in Lincoln and Whetstone.

A statement from Rolls-Royce said: “This indication of interest is subject to a number of conditions. There is no certainty that this will result in a transaction involving ITP Aero.

“ITP Aero is a key partner for Rolls-Royce, and Rolls-Royce intends to retain a long-term relationship with the business across its Civil Aerospace and Defence programmes.

“Any further announcement will be made as appropriate.”

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