Rolls-Royce sells stake in refuelling jets unit AirTanker for $261 million By Reuters

© Reuters. FILE PHOTO: A Rolls-Royce logo is seen at the company’s aerospace engineering and development site in Bristol, Britain, December 17, 2015. REUTERS/Toby Melville/File Photo

LONDON (Reuters) – British engineering company Rolls-Royce (OTC:) said it agreed to sell its 23.1% stake in AirTanker Holdings, the owner of 14 A330 refuelling jets, for 189 million pounds ($261 million), in its latest disposal aimed at reducing debt.

The aero-engine maker wants to sell 2 billion pounds worth of assets to help repair its balance sheet after the pandemic.

Rolls said after the planned sale to Equitix Investment Management Limited, it would continue to be a 23.5% shareholder in AirTanker Services, which operates the 14 refuelling and transport jets that are mainly used by Britain’s Ministry of Defence.

AirTanker Holdings is a joint venture between Airbus, Babcock, and Thales.

($1 = 0.7234 pounds)

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