Rolls-Royce gets green light for £1.5bn deal
Rolls-Royce has revealed that the Spanish government has approved the sale of its ITP Aero business to a consortium of investors led by Bain Capital Private Equity in a deal worth around £1.5bn.
This sale, which was announced on 27 September 2021, completes Rolls-Royce’s disposal programme announced on 27 August 2020, to raise proceeds of at least £2bn. The cash from the sale will be used to help rebuild the Rolls-Royce balance sheet.
A statement from the Derby manufacturing giant said: “ITP Aero will remain a key strategic supplier and partner for Rolls-Royce across both Civil Aerospace and Defence programmes.”