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LONDON, Aug 3 (Reuters) - Britain's Rolls-Royce is in
advanced talks to sell its Norwegian maritime engine-maker
Bergen to UK-based engineering group Langley Holdings, a source
close to the matter said, ensuring a disposal plan continues to
progress.
Rolls-Royce is aiming to raise 2 billion pounds from
disposals by 2022 as part of plans to repair finances which have
been battered by the pandemic. Airlines flew less, cutting one
of Rolls's main sources of income.
Bergen is a small part of the asset sale plan -- a previous
attempted sale valued it at 150 million euros -- but any deal
will reassure investors that the programme remains on track.
Rolls-Royce declined to comment on the deal, which could be
announced on Thursday when the group is due to publish
first-half results.
Investors are more interested in an update on the sale of
Rolls's Spanish unit ITP Aero, which the company hopes will go
for up to 1.5 billion euros.
Sky News reported earlier on Tuesday that Rolls had picked
privately-held Langley Holdings as the buyer for Bergen.
Rolls-Royce had previously agreed to sell Bergen to a
Russian company but the deal was blocked in March by Norway on
national security grounds.
The potential new buyer, Langley, is based in
Nottinghamshire, central England, employs 4,600 people and has
units in Germany, France and Italy, where it is a manufacturer
of advanced electric motors and generators.
Bergen is based on Norway's west coast, and has been owned by
Britain's Rolls-Royce for more than 20 years. It supplies NATO
member Norway's navy as well as the global shipping industry.
(Reporting by Sarah Young; editing by William James)
Rolls-Royce (RR.)
