Rolls-Royce Welcomes Daimler's Decision on Rolls-Royce Power Systems
Rolls-Royce welcomes the decision by the Board of Management of Daimler AG to exercise the put option relating to its 50% shareholding in Rolls-Royce Power Systems (RRPS). Rolls-Royce will acquire the shares from Daimler, which has been a 50-50 joint venture partner in RRPS since 2011. The option, which is subject to a formal valuation process, was valued at £1.9bn on the Rolls-Royce balance sheet at Dec 31 st 2013. Rolls-Royce has ample liquidity to fund this purchase from existing cash and...