8th Nov 2021 09:21
Rolls-Royce Holdings PLC - London-based jet engine maker - Completes the sale of its civil nuclear instrumentation & control business to French-led consortium Framatome. The deal, which was first announced back in December 2020, was completed following regulatory clearances. Rolls-Royce says the deal, for which it provides no financial details, contributes to the target it set last year of GBP2 billion in disposals. The I&C business had GBP74 million in revenue in 2020.
Framatome designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants. It is 75.5%-owned by France's EDF, with Mitsubishi Heavy Industries Ltd holding 19.5% and Assystem SA 5%. Framatome says the purchase of the Rolls-Royce I&C business expands its engineering expertise and industrial footprint in this area. Most of the 550 employees joining Framatome from Rolls-Royce are based in Grenoble, France.
Rolls-Royce current stock price: 142.18 pence, down 0.6% on Monday
Year-to-date change: up 28%
By Tom Waite; [email protected]
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