Rolls-Royce has completed the sale of its Bergen Engines business to Langley Holdings for an enterprise value of €63 million. The completion of the transaction, which was announced on August 3, 2021, follows the conclusion of work to separate the business from the group.
Sale proceeds of €91 million from the transaction, together with €16 million of cash held within Bergen Engines which has been retained by Rolls-Royce, will be used to help rebuild the Rolls-Royce balance sheet in support of its medium-term ambition to return to an investment-grade credit profile. In 2020, Bergen Engines generated revenues of approximately €200 million with the assets and liabilities of the business presented as held for sale in the Rolls-Royce Holdings plc consolidated balance sheet. (£1.00 = €1.20 at time of publication)
