(Alliance News) - Rolls-Royce Holding PLC is in advanced talks to sell the majority of its International Instrumentation & Control unit, Sky News reported Tuesday night.
According to Sky, a French-led consortium, Framatome, is willing to pay about GBP100 million for a portion of the civil nuclear business. Framatome, a nuclear reactor firm, is majority-owned by EDF Energy, and part-owned by Mitsubishi Heavy Industries Ltd and Assystem SA.
Sky said "people close to the process" stressed Rolls-Royce's UK-based civil nuclear operations will not be included in the sale.
Citing City sources, Sky said the deal is likely to be announced in the coming weeks.
Rolls-Royce is seeking to offload the remaining portion of the unit to a US-based private equity firm. This particular portion of the Instrumentation & Control unit is already based in the US and supplies data analytics tools to nuclear power stations, Sky said.
Rolls-Royce is hoping to get GBP200 million from the two sales.
https://news.sky.com/story/rolls-royce-in-talks-with-french-consortium-over-civil-nuclear-deal-11790021
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