Rolls Royce (RR.L) today announced news that it has committed to a £1Bn share buyback scheme subject to the completion of the sale of its Energy gas turbine and compressor business to Siemens. The sale announced on 6 May this year, is expected to complete by the end of 2014.
John Rishton, CEO of Rolls-Royce, said: “As no material acquisitions are planned, and reflecting the strength of our balance sheet, we will return the proceeds of the Energy sale to our shareholders”.
Rolls Royce (RR.L) today announced news that it has committed to a £1Bn share buyback scheme subject to the completion of the sale of its Energy gas turbine and compressor business to Siemens. The sale announced on 6 May this year, is expected to complete by the end of 2014.
John Rishton, CEO of Rolls-Royce, said: “As no material acquisitions are planned, and reflecting the strength of our balance sheet, we will return the proceeds of the Energy sale to our shareholders”.
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