Rolls-Royce to sell stake in RTM322 helicopter programme

FTSE 100-listed defence aerospace and energy giant Rolls-Royce has reached an agreement to sell its shareholding and interest in the RTM322 helicopter engine programme to Turbomeca, a Safran company.

FTSE 100-listed defence aerospace and energy giant Rolls-Royce has reached an agreement to sell its shareholding and interest in the RTM322 helicopter engine programme to Turbomeca, a Safran company.

Rolls-Royce said that its 50% interest in the engine programme would be progressively transferred to Turbomeca, which would then hold 100% of the RTM322 programme.

Rolls-Royce would receive a cash consideration of €293m for its shareholding and interest in the programme, the group added.

Under the terms of the agreement, Turbomeca will assume full responsibility for the design, production and support of the RTM322 engine, which powers the Apache, EH101 Merlin and NH90 helicopters.

The group said that the RRTM Adour engine programme and other helicopter engine programmes in the Rolls-Royce portfolio would be unaffected by the agreement.

The sale is expected to complete before year end, subject to closing conditions.

MF

Recommended

The top funds to invest in
Funds

The top funds to invest in

Investors continue to favour passive funds in April though figures reveal an actively managed money market fund also caught their eye. We look at wher…
3 May 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
20 Apr 2023
Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
28 Mar 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023

Most Popular

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?
Savings

June’s NS&I Premium Bond prize draw - are you this month’s millionaire?

Two fortunate NS&I Premium Bond winners are now millionaires. Find out here if you’re one of them.
1 Jun 2023
The best one-year fixed savings accounts - June 2023
Savings

The best one-year fixed savings accounts - June 2023

You can now earn 5% on 1 year fixed savings accounts - the best rate seen in 14 years. We have all the latest rates available now.
2 Jun 2023
The top healthcare funds to buy
Investments

The top healthcare funds to buy

Increasingly rapid progress in drugs and healthcare technology makes these trusts top tips, says Max King.
1 Jun 2023