Rolls-Royce Sener purchase 53.1% of the Spanish ITP – Investing.com Spain

Investing.com. – Rolls-Royce (LON takes full control of the Spanish Industria de Turbo Propellers (ITP)

The British group announced the purchase of 53.1% of the company, until now in the hands of Spanish engineering group Sener.

the value of the transaction amounts to 720 million euros.

the agreement provides flexibility to settle in shares of Rolls-Royce halfway payment.

This, in principle, should be settled within two years and the operation closed in early 2017.

This acquisition will strengthen the position of Rolls-Royce in programs growth of large engines of its civil division.

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