Rolls-Royce to offload nuclear instrument unit to France’s Framatome. Rolls-Royce has agreed to sell its French civil nuclear business to EDF-controlled Framatome, the blue chip engineer announced on Monday. Financial details of the sale have not been disclosed. However, chief executive Warren East said: “The transaction marks a further simplification of our business and contributes towards our target to generate over £2bn from disposals.” Rolls-Royce was already looking to sell the French civil nuclear business in March. But the pandemic has hit Rolls-Royce hard, as it is paid by most airline customers in line with hours flown. In October, it announced plans to shore up finances by raising a total of £5bn, including around £2bn from a discounted rights issue.
Share Cast 7th Dec 2020 read more »
Rolls-Royce today announced that it would sell its nuclear instrumentation business in the first stage of plans to make £2bn in disposals to fuel its post-coronavirus recovery. The blue-chip engineer said that it would sell the business, which employs 550 people, to French nuclear firm Franatome, for an undisclosed fee.
City AM 7th Dec 2020 read more »
Reuters 7th Dec 2020 read more »