London: Rolls-Royce has announced the completion of the sale of our 23.1% shareholding in AirTanker Holdings Limited to Equitix Investment Management Limited for cash proceeds of £189m.
The completion of the transaction, which was announced on 13 September 2021, follows clearance from the relevant regulatory authorities.
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Proceeds from the transaction will be used to help rebuild the Rolls-Royce balance sheet in support of our medium-term ambition to return to an investment grade credit profile, the company said.
AirTanker Holdings Limited owns 14 A330-200 Voyager aircraft which are powered by Trent 772B engines, a derivative of the Trent 700 engine. The Voyager aircraft support air-to-air refuelling, air transport and ancillary services for the UK Ministry of Defence.
This fleet is operated by AirTanker Services Limited, in which we will continue to be a 23.5% shareholder. We will also continue to provide servicing and maintenance for the fleet of Rolls-Royce engines that power the Voyager aircraft to support the Royal Air Force.