Rolls-Royce to start sale process for ITP Aero in first half of 2021

Fri Dec 11 2020
Mark Cooper (3150 articles)
Rolls-Royce to start sale process for ITP Aero in first half of 2021

Rolls-Royce expects to kick-off the formal sale process for its Spain-based unit ITP Aero, expected to be the largest asset sold as part of a 2 billion pound ($2.6 billion) disposal plan, in the first-half of next year.

“The first half of next year we’ll see as engaging with the buyer universe around the ITP business,” chief finance officer Stephen Daintith told reporters on Friday.

The company is also prepared for the end of Britain’s transition period with the European Union on Dec. 31, whether the UK leaves with a trade deal or not, said its chief executive Warren East.

“We’re ready for anything as far as Brexit is concerned,” he said.

Mark Cooper

Mark Cooper

Mark Cooper is Political / Stock Market Correspondent. He has been covering Global Stock Markets for more than 6 years.