Rolls-Royce (RYCEY) has inked a deal to sell ITP Aero for €1.7 billion to Bain Capital Private Equity. The divestment is part of the company’s disposal program that seeks to rebuild the balance sheet and support medium-term ambitions. RYCEY shares rose 10.67% to close at $1.97 on Monday. Rolls-Royce is an Industrial technology company that develops, manufactures and sells aero engines for commercial aircraft. It also provides high speed and medium speed reciprocating engines. The deal values ITP Aero at an enterprise value of approximately €1.8 billion. Subject to certain closing conditions, the transaction is expected to conclude in the first half of 2022.
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