Rolls Royce confirms Finnish talks are over

9th Jan 2014 07:04

Confirming recent press rumours, Rolls-Royce admitted it had been in takeover talks with Finnish marine engine maker Waertsilae (or Wärtsilä) but that these were now over. Rolls-Royce had contacted Helsinki-based Waertsilae about a potential takeover of its marine propulsion division, according to Bloomberg, but that the Finnish group and Sweden's Wallenberg family, major shareholders, were reluctant to sell due to its growth potential. Rolls-Royce's marine unit downgraded its profit guidance in November.Waertsilae added on Thursday that the British company had made an offer for the entire company.OH