Rolls-Royce Motor Cars sales soar as demand for luxury vehicles surges Luxury cars soar Despite Covid concerns and ongoing supply chain issues, luxury car maker Rolls-Royce has reported record highs in 2021, with sales going up 49 per cent compared with the previous year. Delivering the highest annual sale since its foundation in 1906, Rolls-Royce shipped 5,586 cars, registering record figures in most regions including China, the Americas and [...]
Rolls-Royce sells off Bergen Engines for €63m in bid to streamline business automotive M&A Rolls-Royce has cut a deal with engineering group Langley for its liquid fuel and gas engines business. The aerospace giant is set to sell Bergen Engines for €63m, following a strategic review of the business, as Rolls-Royce looks to build a “more focussed group”. The deal forms part of Rolls-Royce’s target of selling off £2bn [...]
Qatar takes 10 per cent stake in Rolls-Royce green nuclear business Rolls-Royce's carbon business Qatar’s sovereign wealth fund the Qatar Investment Authority (QIA) is reportedly investing £85m in a low-carbon nuclear plant developed by Rolls-Royce and backed by the UK Government. The QIA will own a 10 per cent stake while Rolls-Royce will be left with 70 per cent ownership after investing £195m in the project. Other stakeholders will [...]
Rolls-Royce reaches agreement with union over Barnoldswick’s future November 12, 2021 Rolls-Royce has reached an agreement with UK union Unite to operate the Barnoldswick factory in Lancashire for another 10 years, freezing compulsory redundancies for five years. The agreement builds on protections that were previously secured in 2020. “This is a tremendous achievement for the workers at Barnoldswick who have stood solidly in support of one [...]
Watch as Rolls-Royce plans to launch its first electric vehicle called ‘Spectre’ September 30, 2021 Luxury car maker Rolls-Royce says it will go all-electric by 2030, with its first EV, the “Spectre”, on the market in 2023. Watch the full report.
Rolls-Royce shares shoot up 11 per cent as it pockets £1.5bn from Bain in Spain September 27, 2021 FTSE 100 engineering giant Rolls-Royce said today it has struck a deal to sell its Spanish ITP Aero business for £1.5bn to a consortium led by private equity giant Bain in the latest move of its major disposal programme. The company said the deal, which is expected to complete in the first half of 2022, [...]
Rolls-Royce and Babcock sell stakes in RAF refuelling business for £315m September 13, 2021 Industrial heavyweights Babcock and Rolls-Royce today sold off their respective stakes in Air Tanker, the company which owns the RAF’s fleet of refuelling planes. The two firms, which owned a combined 40 per cent of Air Tanker, are both on something of a disposal spree after taking a hefty hit from the pandemic. Rolls-Royce, which [...]
Rolls-Royce set to sell ITP Aero to Bain ‘for €1.6bn’ August 4, 2021 Rolls-Royce has entered exclusive talks to sell its Spanish unit ITP Aero to a consortium led investment house Bain Capital for a rumoured €1.6bn (£1.5bn). The FTSE 100 engineer is looking to raise £2bn from selling off various assets in a bid to restore its balance sheet after the travails of the coronavirus pandemic. ITP, [...]
Rolls-Royce finally gets Norwegian unit sale across the line with £54m Langley deal August 4, 2021 FTSE blue-chip Rolls-Royce has agreed to sell Bergen Engines, its Norwegian maritime engine manufacturing arm, to UK engineering group Langley Holdings with a new price tag of €63m (£53.6m). Rolls-Royce will retain €110m (£93.6m) from the sale – €70m from the transaction in addition to €40m Bergen currently holds in cash. This is in line [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 30, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. IoD’s chief economist departs for Fitch Ratings The Institute of Director’s (IoD) chief economist will step away from the role next week to become director of economics at US credit rating [...]