Update23 Apr 2021 17:17
Rolls-Royce in constructive talks with Spain over ITP Aero saleFri, 23rd Apr 2021 15:39LONDON, April 23 (Reuters) - British engineering companyRolls-Royce said it was in constructive talks with Spainover the sale of its Spanish unit ITP Aero, after a media reportsaid Madrid could block the deal.Rolls-Royce is hoping to secure up to 1.5 billion euros($1.8 billion) from the sale of turbine blade-maker ITP Aero,which it has put on the block as part of a 2-billion-pound($2.8 billion) asset sale to help repair its balance sheet afterthe pandemic.Bloomberg reported earlier on Friday that the disposal couldbe blocked by Spain unless the buyer could offer reassurancesabout ITP's future, citing a person familiar with the matter.Rolls-Royce said the relevant Spanish authorities - ITP isheadquartered in the Basque region of Spain - were involved inthe process and talks were positive.