By BFN News | 10:45 AM | Monday 01 December, 2014
Rolls-Royce has completed the deal to sell its energy gas turbine and compressor business to Siemens for a £785m cash consideration. The deal was originally announced in May. The company has also received a further £200m for a 25 year licensing agreement granting Siemens access to relevant Rolls-Royce aero-derivative technology for use in the 4 to 85 megawatt power output gas turbine range. As announced in June, Rolls-Royce will return the proceeds of the energy sale to shareholders by way of a £1 billion share buyback. Further details will be announced as appropriate. At 10:45am: (LON:RR.) RollsRoyce Group PLC share price was +12.75p at 855.25p Story provided by StockMarketWire.
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