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FTSE blue-chip Rolls-Royce has agreed to sell Bergen Engines, its Norwegian maritime engine manufacturing arm, to UK engineering group Langley Holdings with a new price tag of €63m (£53.6m). The acquisition of Bergen Engines is a strategic step in the development of our department for power solutions, and I look forward to welcoming the more than 900 employees in Bergen Engines in our family business, says Anthony Langley, who is chairman and CEO of Langley Holdings. Rolls-Royce is selling its Bergen Engines subsidiary to industrial conglomerate Langley Holdings for an enterprise value of €63m. Rolls-Royce selling Bergen engines business for €63 ... ROLLS-ROYCE SIGNS AGREEMENT TO SELL BERGEN - Company ... In addition, Rolls-Royce will retain some €40m of cash held within Bergen Engines. Rolls-Royce has agreed to sell Bergen Engines to Retford-headquartered global engineering group Langley Holdings for an enterprise value of €63m. Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from . The deal replaces an earlier agreement to sell Bergen Engines to a Russian investment group, which the Norwegian government blocked in March citing . Bergen Engines will be operated by Langley Group as a stand-alone business. The FTSE 100 aerospace group has agreed to sell the marine engine manufacturing business, which is based in Bergen in Norway, to Langley Holdings for €70 million, plus €40 million of cash held . Posted on 4 Aug 2021 by James Devonshire. Anthony Langley, Chairman and CEO of Langley Holdings plc, said: "We are very pleased to have reached this agreement with Rolls-Royce. The agreement is subject to the satisfaction of certain closing conditions. The government eventually stopped the sale for security reasons. In this aerial view of the factory, giant generator sets weighing 175 tonnes each are loaded directly onto a barge before onward sea transport by ship. The agreement is subject to the satisfaction of certain closing conditions. The sale came about after the Norwegian government stopped a sale to Russian-controlled company TMH due to national security concerns. Chairman and chief executive Anthony Langley, who founded Langley in 1975, said: "The acquisition of Bergen Engines is a strategic step in the development of our power solutions division, and I . Rolls-Royce said it agreed to sell its Norwegian maritime engine business Bergen to UK-based Langley Holdings, in a deal which will boost the British aero-engine maker's finances by 110 million . Bergen Engines employs around 950 people, of which around 650 are based at the head office on Hordvikneset in Bergen. Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from existing cash reserves. Rolls-Royce selling Bergen Engines to Langley. We have notified the Norwegian government of the agreed sale, and effective completion is scheduled for 31 December 2021. The group employs around 4,600 people. Rolls Royce has gone through the types of engines the factory produces and concluded that they do not fit into the company's portfolio, Sysla writes on Friday. The sale includes the Bergen Engines factory and associated facilities in Norway along with the design and global service network. Bergen Engines AS is a diesel and gas engine manufacturer based in Bergen, Norway. Rolls-Royce (RR.L) said it agreed to sell its Norwegian maritime engine business Bergen to UK-based Langley Holdings, in a deal which will boost the British aero-engine maker's finances by 110 . The agreed sale of Bergen Engines is a part of our ongoing portfolio management to create a more focused group and follows a strategic review of Bergen Engines. Bergen Engines was instead sold to the British company Langley Holdings. Le motoriste britannique Rolls-Royce a annoncé mercredi avoir accepté de vendre sa filiale Bergen Engines, un des fournisseurs de la marine de la Norvège, au groupe britannique Langley Holdings . Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from existing cash reserves. photo: Bergen Engines. Langley Holdings plc, the privately owned UK engineering group, has signed an agreement to acquire Bergen Engines AS, from Rolls-Royce Power Systems AG, a subsidiary of Rolls Royce plc, for an enterprise value of €63 million.In addition, Rolls-Royce will retain approximately €40 million of cash currently held within the Bergen Engines business and Langley will . Rolls-Royce has agreed to sell its Bergen Engines business in Norway to Retford-based Langley Holdings in a deal worth £60m. The sale of Rolls-Royce Bergen Engines to Langley Holdings will be completed on 31st December, 2021. In 2020, the business generated revenues of approximately €200m. LONDON (Reuters) - Rolls-Royce said it agreed to sell its Norwegian maritime engine business Bergen to UK-based Langley Holdings, in a . In a statement issued yesterday…. Bergen Engines employs more than 900 people worldwide including 650 in the main factory in Hordvikneset. The acquisition of Bergen Engines is a . "This is an outcome the government has called for in the . Rolls-Royce PLC has a new agreement to sell its Bergen Engines subsidiary for €63 million (est. Bergen Engines business to get new owner as RR agrees sale. The agreed sale of Bergen Engines is part of Rolls-Royce's ongoing portfolio management to create a more focused group and contributes towards its target to generate at least £2bn from disposals. "This is an outcome the government has called for in the . Langley unterzeichnet Vereinbarung zum Kauf des Geschäftsbereichs Bergen Engines von Rolls-Royce Lesen Sie mehr. Since 1946, Bergen Engines has supplied over 7,000 engines to marine and power generation customers worldwide, of which around 4,000 are still in operation. Rolls-Royce Bergen Engines offers medium speed engines for propulsion and power generation for both marine and land operations. Anthony Langley, Chairman and CEO of Langley Holdings plc, said: "We are very pleased to have reached this agreement with Rolls-Royce. Rolls-Royce has signed an settlement to promote its Bergen Engines medium velocity liquid gasoline and gasoline engines enterprise to international engineering group Langley Holdings plc for an ent… AUG 23, 2021 Langley Gladiators back in the Arena Read More. In 2020, Bergen Engines' business generated revenues of approximately US$237M with its assets and liabilitieslisted as 'held for sale' in Rolls-Royce's balance sheet. The sale covers the Bergen Engines factory, service workshop and foundry in Norway; engine and power plant design capability; and a global service . Rolls-Royce Holdings PLC said Wednesday that it has agreed to sell its Bergen Engines business to global engineering group Langley Holdings PLC for an enterprise value of 63 million euros ($74.7. The acquisition of Bergen Engines is a strategic step in the development of our power solutions department, and I look forward to welcoming the more than 900 employees of Bergen Engines in our family business, says Anthony Langley, who is chairman and CEO of Langley Holdings. It is unclear what will happen to the factory's 770 employees. We have notified the Norwegian government of the agreed . 08.03.2021 Langley Match Fund policy boosts employees' donations as they take the Pandemic head-on and raise tens of thousands for their favourite charities. Late Tuesday night, Rolls-Royce, which owns Bergen Engines, confirmed that the factory had been sold to British Langley Holdings for NOK 655 million. Rolls-Royce has signed an agreement to sell its Bergen Engines medium speed liquid fuel and gas engines business to global engineering group Langley Holdings for an enterprise value of €63m. Rolls-Royce agrees sale of Norway's Bergen for $131 million. Rolls-Royce has agreed to sell its Bergen Engines medium speed liquid fuel and gas engines business to the engineering group Langley Holdings for €63 million. Langley is funding the deal, together with working capital requirements for the Bergen . Rolls-Royce has agreed to sell Norway-based Bergen Engines to engineering business Langley Holdings for EUR110 million (USD130.2 million) and has begun negotiating with a possible buyer of Spanish. Bergen Engines AS is a diesel and gas engine manufacturer based in Bergen, Norway.The company is a fully owned subsidiary of Rolls-Royce Power Systems AG.. On 3rd August 2021, Rolls-Royce entered into an Agreement to sell the Bergen Engines business to the British engineering and industrial group, Langley Holdings plc. Langley Holdings CEO Anthony Langley says: The acquisition of Bergen Engines is a strategic step in the development of our power solutions division, and I am looking forward to welcoming the 900 plus employees of . The acquisition of Bergen Engines is a strategic step in the development of our power solutions division, and I am looking forward to welcoming the 900 plus employees of Bergen Engines to our family of businesses." Langley is behind Langley Holdings, which he owns (100% ownership). Langley Holdings, headquartered in the UK, is a global, engineering group with its main operations in Germany, Italy, France and the UK, alongside a substantial presence in the US. Rolls-Royce (LSE:RR., ADR:RYCEY) has signed an agreement to sell its Bergen Engines medium speed liquid fuel and gas engines business to global engineering group Langley Holdings plc for an . Langley Holdings is a family-owned and UK-headquartered company that has operations in Germany, Italy, France and the US in addition to the UK. Rolls-Royce (RYCEF.PK,RR.L,RYCEY.PK), on Wednesday, announced signing of an agreement to sell its Bergen Engines medium speed liquid fuel and gas engines business to global engineering group Langley Holdings plc for an enterprise value of €63 million.The company noted that the agreed sale of Bergen Engines is a part of its ongoing portfolio management to create a more focused group and . Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from existing cash reserves. Energy Rolls-Royce has signed an agreement to sell its Bergen Engines medium speed liquid fuel and gas engines business to global engineering group Langley Holdings plc for an enterprise value of EUR 63 million. Rolls Royce has gone through the types of engines the factory produces and concluded that they do not fit into the company's portfolio, Sysla writes on Friday. Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from existing cash reserves. Bergen Engines will become part of a newly formed Power Solutions Division within Langley, together with Marelli Motori, the Italian motor and generator manufactures and; Piller Power Systems, the German critical power specialist. Rolls-Royce had previously agreed to sell Bergen for 150 million euros to a Russian company but the deal was blocked in March by Norway on national security grounds. photo: Bergen Engines. Chairman and chief executive Anthony Langley, who founded Langley in 1975, said: "The acquisition of Bergen Engines is a strategic step in the development of our power solutions division, and I am looking forward to welcoming the 900-plus employees of Bergen Engines to our family of businesses." $87.5 million) to Langley Holdings PLC, a U.K.-based engineering and manufacturing portfolio. For over 75 years we have been innovating, designing and manufacturing engines that have become known for their world-leading efficiency, reliability and operational flexibility both on land and at sea. Langley is funding the deal, together with working capital requirements for the Bergen business going forward, from existing cash reserves. Rolls-Royce has signed an agreement to sell its Bergen Engines medium speed liquid fuel and gas engines business to global engineering group Langley Holdings plc for an enterprise value of EUR 63 million. Retford - 3rd August 2021. The sale is a part of an ongoing portfolio management by Rolls-Royce to create a more focused group. The sale came about after the Norwegian government stopped a sale to Russian-controlled company TMH due to national security concerns. Bergen Engines will be operated by Langley Group as a stand-alone business. Rolls-Royce has signed an agreement to sell its Bergen Engines business to global engineering group Langley Holdings for an enterprise value of €63m. On 3rd August 2021, Rolls-Royce entered into an Agreement to sell the Bergen Engines business to the British engineering and industrial group, Langley Holdings plc. Rolls-Royce said it agreed to sell its Norwegian maritime engine business Bergen to UK-based Langley Holdings, in a deal which will boost the British aero-engine maker's finances by 110 million euros ($130.6 million). Rolls-Royce sells Bergen Engines to Langley for €63m. The previous owner, Rolls Royce, wanted to sell the company to a Russian company, which attracted a lot of attention in Norway. Rolls-Royce Holdings PLC announced Wednesday that it has agreed to sell its Bergen Engines medium speed liquid fuel and gas engines business to Retford-headquartered global engineering group Langley Holdings for an enterprise value of around £53.6m . Bergen Engines has over 900 employees. UK-headquartered Langley Holdings is financially independent and remains under family ownership. Langley Holdings is an industrial group with around 4,600 employees. The sale is a part of an ongoing portfolio management by Rolls-Royce to create a more focused group. Anthony Langley, Chairman and CEO of Langley Holdings plc, said: "We are very pleased to have reached this agreement with Rolls-Royce. Langley visits Bergen Engines Read More. Bergen Engines' long-term relationship with Kongsberg Maritime, distributor of Bergen medium speed engines to the maritime market, is planned to continue as is. Established in 1975 by Anthony Langley, Chairman and CEO, the Langley Group is financially independent and remains under family ownership. The deal is part of the aircraft engine . The group employs around 4,600 people. AUG 4, 2021 Promising young sailor sails with world's best Read More. The agreed sale of Bergen Engines is a part of our ongoing portfolio management to create a more focused group and follows a strategic review of Bergen Engines. The acquisition of Bergen Engines is a strategic step in the development of our power solutions division, and I am looking forward to welcoming the 900 plus employees of Bergen Engines to our family of businesses." Bergen Engines' long-term relationship with Kongsberg Maritime, distributor of Bergen medium speed engines to the maritime market, is planned to continue as is. Rolls-Royce has agreed to sell its Bergen Engines medium speed liquid fuel and gas engines business to global engineering group Langley Holdings plc for an enterprise value of €63m. Bergen Engines will become part of a newly formed Power Solutions Division within Langley, together with Marelli Motori, the Italian motor and generator manufactures and; Piller Power Systems, the German critical power specialist. 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