LONDON, UK: Rolls-Royce announced the completion of the sale of civil nuclear instrumentation & control (I&C) business to Framatome.
The completion of the transaction, which was first announced on 7 December 2020, follows recent clearance from the relevant regulatory authorities.
The proceeds received by Rolls-Royce contribute towards the target to generate at least £2bn from disposals, as announced last year, and will be used to help strengthen the Rolls-Royce balance sheet in support of the company’s medium term ambition to return to an investment grade credit profile.
The I&C business, which in 2020 reported revenues of £74m, includes all the Rolls-Royce activities and teams based in Grenoble (France), Prague (Czech Republic), Beijing and Shenzhen (China). No UK-based employees are impacted as this agreement does not include our UK civil nuclear business, or small modular reactor activities, which will continue contributing to the provision of low carbon power for the UK.