Rolls-Royce Motor Cars Ltd. announced on Monday it signed an agreement to sell its civil nuclear instrumentation and control business (I&C) to Framatome for an undisclosed amount.
The sale is a part of and is expected to be completed at the beginning of the second half of 2021. It is subject to customary regulatory approval.
“This transaction marks a further simplification of our business and contributes towards our target to generate over £2bn from disposals, as announced on 27 August 2020. We also believe it represents the best outcome for this part of our civil nuclear operations and its people,” Chief Executive Warren East said in the press release.