Rolls-Royce completes Bergen Engines sale

Source: press release, 4 January 2022

photo: Bergen Engines
photo: Bergen Engines

Rolls-Royce has announced the completion of the sale of its Bergen Engines business to Langley Holdings plc for an enterprise value of EUR 63 million. The completion of the transaction, which was announced on 3 August 2021, follows the conclusion of work to separate the business from the Group.

Sale proceeds of EUR 91 million from the transaction, together with EUR 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 EUR 200 million with the assets and liabilities of the business presented as held for sale in the Rolls-Royce Holdings plc consolidated balance sheet.