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Norway halts Rolls-Royce asset sale to Russian company on security grounds
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Norway suspends Rolls-Royce asset sale to Russian firm on security grounds
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By Terje Solsvik and Kate Holton
OSLO/LONDON, March 9 (Reuters) – Norway has suspended a planned asset sale by engine maker Rolls-Royce Holdings Plc to a Russian-controlled company as it assesses the security implications for the country’s navy, the justice ministry said on Tuesday.
Norway’s NSM security agency is assessing the 150 million-euro ($178 million) sale of Bergen Engines to a company controlled by Russia’s TMH Group, the ministry said.
Britain’s Rolls-Royce announced the planned sale on Feb. 4 as part of a disposal plan aimed at helping the maker of engines for aircraft and ships survive the pandemic.
Based in the city of Bergen on Norway’s west coast, Bergen Engines is, among other things, a supplier to NATO member Norway’s navy which is headquartered nearby.