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Rolls-Royce Plans Sale of Bergen Engines Unit, Telegraph Says

Bloomberg logoBloomberg 11/1/2020 Jacqueline Poh

(Bloomberg) --

Rolls-Royce Holdings Plc has hired Deloitte to conduct the sale of its diesel and gas engine division Bergen, which could fetch up to 100 million pounds ($129 million), the Sunday Telegraph reported.

Germany’s MAN SE and Finland’s Wartsila Oyj could be potential buyers and a sale is expected early next year, according to the report, which didn’t say where it got the information.

The Bergen unit, which produces engines that generate electricity to power ships, posted an underlying operating loss of 18 million pounds on sales of 239 million pounds, and took a 58 million-pound impairment last year, the report said.

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Rolls-Royce shareholders backed a 2 billion-pound equity raise last week, in a key step toward shoring up the British engine maker’s finances to outlast the Covid-19 pandemic.

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