Rolls-Royce sells helicopter engine stake to Safran's Turbomeca
LONDON (Reuters) - Rolls-Royce (RR.L) has sold its 50 percent stake in the RTM322 helicopter engine program to Safran's (SAF.PA) Turbomeca for 293 million euros ($386 million), the British firm said on Monday.
Turbomeca will now assume full responsibility for managing the design, production and support of the RTM322 engine, which powers the Apache, EH101 Merlin and NH90 helicopters.
Rolls said it would progressively transfer the operational responsibilities in the engine program to Turbomeca over several years.
The RRTM Adour engine program, which powers Hawk and Jaguar aircraft, is unaffected by this sale, as are the other helicopter engine programs in the Rolls-Royce portfolio.
($1 = 0.7584 euros)
(Reporting by Rhys Jones; editing by Brenda Goh)
NEW YORK - With the U.S. Federal Reserve finally announcing it will start tapering its stimulus, removing a big uncertainty in the market, can Wall Street expect a stronger finish to the year? Not really.
WASHINGTON - Start-up companies will be able to raise much more capital through certain public stock deals without facing costly regulatory burdens under a proposal announced by U.S. securities regulators on Wednesday.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.