Rolls-Royce sells gas turbine and compressor business to Siemens

Rolls-Royce sells gas turbine and compressor business to Siemens

Rolls-Royce said it has completed the deal to sell its Energy gas turbine and compressor business to Siemens for £785 million.

The deal was originally announced on 6 May this year.

Rolls-Royce has also received a further £200 million for a 25-year licensing agreement, granting Siemens access to relevant Rolls-Royce aero-derivative technology for use in the 4 to 85 megawatt power output gas turbine range.

As reported earlier in June, Rolls-Royce will return the proceeds of the Energy sale to shareholders by way of a £1bn share buyback.

Press Release; Image: Rolls-Royce

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