Rolls-Royce today announced the completion of the sale of its 23.1% shareholding in AirTanker Holdings Limited to Equitix Investment Management Limited for cash proceeds of £189 million.
Image courtesy Rolls-Royce
The completion of the transaction, which was announced on 13 September 2021, follows clearance from the relevant regulatory authorities. Proceeds from the transaction will be used to help rebuild the Rolls-Royce balance sheet in support of its medium-term ambition to return to an investment grade credit profile.
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 Rolls-Royce will continue to be a 23.5% shareholder. Rolls-Royce 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.