Rolls-Royce: completes sale of ITP Aero for about E1.8bn

(CercleFinance.com) - Rolls-Royce has announced that it has completed the sale of ITP Aero to a consortium of investors led by Bain Capital Private Equity, for an enterprise value of approximately 1.
8 billion euros.

The transaction was completed following the announcement on 3 August 2022 that the Spanish government had approved the transaction.

The proceeds of the sale amounted to 1.6 billion euros. In addition, a dividend of 0.1 billion euros was paid shortly before completion.

The proceeds of the sale will be used by Rolls Royce to reduce its debt with the immediate repayment of the 2 billion pound loan, which is backed by an 80% guarantee from UK Export Finance.

The sale of ITP Aero completes the disposal program announced on 27 August 2020.



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