Rolls-Royce to Sell Michell Bearings Business for GBP12.6 Million
April 28 2015 - 4:15AM
Dow Jones News
By Ian Walker
LONDON--Rolls-Royce Holdings PLC (RR.LN) said Tuesday it is
selling its Michell Bearings business to British Engines Ltd. for
12.6 million pounds ($19.13 million) in cash, which will be used
for working capital requirements.
Subject to license consents, the sale will be completed in the
autumn, Rolls said.
"The agreement announced today will allow Rolls-Royce to
concentrate on the core areas of our Marine business where we can
add most value," Mikael Makinen, Rolls-Royce, President - Marine
said.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Rolls-royce (LSE:RR.)
Historical Stock Chart
From Mar 2024 to Apr 2024
Rolls-royce (LSE:RR.)
Historical Stock Chart
From Apr 2023 to Apr 2024