23 April 2013
Rolls-Royce today sold its stake in a military engine business which builds engines for Apache attack and Merlin helicopters for €293 million (£250 million).
Chief executive John Rishton decided to sell Rolls’ 50% share in the International Aero Engines joint venture to its partner Turbomeca, part of French group Safran. Rolls said it would continue to work with Safran on the Adour engine, which powers the Hawk jet trainer and Jaguar aircraft.
The sale is expected to complete before the end of the year.
