Power systems group Rolls-Royce has announced the sale of its wholly-owned subsidiary, Tidal Generation to Alstom for an undisclosed sum.
The sale of Tidal, which designs, develops and manufactures tidal turbine technologies, is expected to complete within the next few months.
At the end of 2011, Tidal has gross assets of £10.6m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Rolls-Royce shares declined 0.59% to 846.50p by 14:05.
NR
-
Ofgem proposes new energy tariffs with low or no standing changesStanding charges have invited public backlash as households battle high energy bills
-
Google shares bounce on Gemini 2.0 launchGoogle has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
