Rolls-Royce sells £250m helicopter stake

FTSE 100-listed Rolls-Royce yesterday said it has completed the sale of its 50 per cent stake in a helicopter engine programme for €293m (£249m). Turbomeca – a subsidiary of French aerospace firm Safran – will now fully manage the programme, which makes engines for Boeing Apache and Merlin helicopters. The sale is part of Rolls-Royce’s cost-cutting drive.