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Rolls-royce Closes Sale Of Commercial Marine Business To KONGSBERG

(RTTNews) - Rolls Royce Holdings Plc (RYCEF.PK, RR.L, RYCEY.PK) on Monday confirmed the completion of the sale of its Commercial Marine business to Norway-based KONGSBERG. The completion of the transaction, which was announced on July 6, 2018, follows recent clearance from the relevant regulatory authorities.

The net proceeds received for the deal, after transaction costs and other adjustments, are estimated to be around 350 million to 400 million British pounds.

As announced after a strategic review on January 17, 2018, the naval marine gas turbine and US-based propeller operations of Rolls Royce's former Marine business unit have already been consolidated within its Defence business.

KONGSBERG will, through a trading arrangement, continue to have access to products from Bergen Engines, which remains part of Rolls-Royce Power Systems. The Bergen engine range of both diesel and gas medium-speed engines is a key component that will enable KONGSBERG to be a leader in the continued development of integrated ship systems.

Separately, through its Power Systems business, Rolls-Royce remains a provider of high-speed engines for the commercial marine market, under the MTU brand name.
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