(Reuters) Rolls-Royce shares went up more than 10% to 146 pence on news it had agreed to sell its Spanish unit ITP Aero for 1.7 billion euros or $2.0 billion.
The sale to a consortium led by Bain Capital Private Equity brings Rolls-Royce close to 2 billion pounds the company targets for disposals in the wake of high pandemic debts.
ITP disposal was announced in August 2020 and was awaiting regulatory approval. It is the company’s biggest asset on the block.
At 146 pence, Rolls-Royce stock is now at the highest level since the early days of the pandemic.
RR: LON is up +11.55%.
