News Column

United Kingdom : ROLLS-ROYCE to reimburse £1.0 billion to INVESTORS via share buyback

June 21, 2014

Rolls-Royce, British aircraft engine maker recently outlined plans of returning 1.0 billion (US$1.7 billion, 1.25 billion euros) to investors through a share acquisition, following the trade of its energy production arm to Germany'sSiemens.

It also added that, "Rolls-Royce today committed to a share buyback of 1.0 billion subject to the completion of the sale of its energy gas turbine and compressor business to Siemens," "The sale ... is expected to complete by the end of 2014."

Previous month, British group affirmed to deal with energy assets to Siemens, valued at 950 million euros (US$1.3 billion).

"As no material acquisitions are planned, and reflecting the strength of our balance sheet, we will return the proceeds of the energy sale to our shareholders," added Rolls-Royce chief executive John Rishton in the statement.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters