UK Markets close in 6 hrs 56 mins
  • FTSE 100

    7,537.50
    +28.35 (+0.38%)
     
  • FTSE 250

    20,377.77
    -4.99 (-0.02%)
     
  • AIM

    933.67
    -0.44 (-0.05%)
     
  • GBP/EUR

    1.1870
    +0.0012 (+0.10%)
     
  • GBP/USD

    1.2033
    -0.0025 (-0.2082%)
     
  • BTC-GBP

    19,961.52
    -108.64 (-0.54%)
     
  • CMC Crypto 200

    569.79
    -20.97 (-3.55%)
     
  • S&P 500

    4,297.14
    +16.99 (+0.40%)
     
  • DOW

    33,912.44
    +151.39 (+0.45%)
     
  • CRUDE OIL

    88.25
    -1.16 (-1.30%)
     
  • GOLD FUTURES

    1,789.50
    -8.60 (-0.48%)
     
  • NIKKEI 225

    28,868.91
    -2.87 (-0.01%)
     
  • HANG SENG

    19,830.52
    -210.34 (-1.05%)
     
  • DAX

    13,899.93
    +83.32 (+0.60%)
     
  • CAC 40

    6,599.72
    +29.77 (+0.45%)
     

Rolls secures final clearance for sale of ITP Aero to Bain

·1-min read

LONDON (Reuters) - Rolls-Royce said on Wednesday it had secured the final regulatory clearance for the sale of ITP Aero to investors led by Bain Capital, with the completion of the 1.8 billion euro ($1.8 billion) deal expected in the coming weeks.

The approval, from the Spanish government, means Rolls has completed its disposal programme, raising at least 2 billion pounds ($2.4 billion).

"Upon completion, sale proceeds (excluding any cash retained by Rolls-Royce) of approximately 1.7 billion euros will be used to help rebuild the Rolls-Royce balance sheet, in support of our ambition to return to an investment grade credit profile in the medium term," it said.

($1 = 0.8221 pounds)

($1 = 0.9833 euros)

(Reporting by Kate Holton; editing by William James)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting