Rolls-Royce expects to kick-off the formal sale process for its Spain-based unit ITP Aero, expected to be the largest asset sold as part of a 2 billion pound ($2.6 billion) disposal plan, in the first half of next year.
“The first half of next year we’ll see as engaging with the buyer universe around the ITP business,” chief finance officer Stephen Daintith told reporters on Friday.
The company is also prepared for the end of Britain’s transition period with the European Union on Dec. 31, whether the UK leaves with a trade deal or not, said its chief executive Warren East.
“We’re ready for anything as far as Brexit is concerned,” he said.
Source: Reuters.com