Rolls-Royce to sell Bergen Engines to Russia’s TMH for €150m

Rolls-Royce has agreed to sell the Bergen Engines medium speed gas and diesel engines business to Russian engineering company TMH Group for about €150m.

The agreement follows a strategic review of the business that was announced last February. The sale includes the medium speed engine factory, service workshop and foundry in Norway; engine and power plant design capability; and a global service network spanning more than seven countries.

The engine maker’s chief executive officer, Warren East, said: "We believe that this agreement is a good outcome for the Bergen Engines business and its people. The sale of Bergen Engines is a part of our ongoing portfolio evaluation to create a simpler, more focused group and contributes towards our target to generate at least £2bn from disposals, as announced in August."

The transaction is expected to close in the second half of this year.