Rolls Royce sells energy arm to Siemens for £785m

Rolls-Royce sells energy arm to Siemens for £785m

Copyright: Rolls-Royce

Rolls-Royce has signed an agreement to sell its energy production arm to Siemens for £785 million.

The British engineering firm will also receive a further £200 million for a 25-year licensing agreement once the transaction for the gas turbine and compressor business has been completed.

John Rishton, CEO of Rolls-Royce said: “This agreement will give the Energy business greater opportunities as part of a much larger energy company and allows Rolls-Royce to concentrate on the areas of business where we can add most value.”

Read the full article here http://www.energylivenews.com/2014/05/08/rolls-royce-sells-energy-arm-to-siemens-for-785m/?utm_source=feedly&utm_reader=feedly&utm_medium=rss&utm_campaign=rolls-royce-sells-energy-arm-to-siemens-for-785m

Source: Energy Live News

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