Rolls-Royce to auction off its Bergen division – report

Rolls-Royce Holdings has restarted the attempt to sell its maritime engine manufacturing division Bergen Engines by having the FTSE-100 engineering group invite prospective bidders to an auction to submit indicative offers later this month, Sky News reported on Friday.

The effort to offload the Norway-based Bergen business comes after Oslo authorities vetoed its sale to a Russian company called Transmashholding, which was making the purchase on national security grounds.

The potential sale is now expected to seek approval from Norway’s government and is estimated to value over £100 million. With this transaction Rolls-Royce is looking to improve its finances, severely battered after the coronavirus crisis



Breaking the News / LH



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