Spain's Indra may bid for majority stake in Rolls-Royce's ITP Aero

14th Jun 2019 13:21

(Sharecast News) - Spanish information technologies outfit Indra has expressed an interest in acquiring a majority stake in ITP Aero from Rolls Royce.Rolls Royce confirmed earlier press speculation in that regard on Friday, adding that the preliminary indication of interest was subject to a number of conditions and that there was no certainty that it would result in a transaction.The British engineer and aerospace firm also said it intended to retain a long-term relationship with the business across its Civil Aerospace and Defence programmes.Spanish website La Informacion broke the news overnight, referencing a deal size of €1.36bn, the price at which Rolls bought the unit from Basque engineering group Sener in 2016, as a possible benchmark for the transaction.ITP Aero manufactures components for various jet engine types, including the Eurofighter´s EJ 200, Boeing's F-18 Super Hornet's F414, and Airbus A400 and participates in multiple civil aviation ventures.-- More to follow --