24th Jul 2019 18:18
(Alliance News) - Rolls-Royce Holdings PLC on Wednesday said discussion have ended and Indra Sistemas SA will not be acquiring a majority stake in its ITP Aero business.
In June, jet engine maker Rolls-Royce said it had received a preliminary indication of interest from Indra for a stake in its ITP Aero Spanish subsidiary.
However, discussions with information technology and defence systems firm Indra are now over "without agreement between the parties".
Therefore, ITP Aero is to stay a separately reported business segment within Rolls Royce and a "core part" of the company.
Shares in Rolls-Royce closed down 0.4% at 873.80 pence on Wednesday afternoon.
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