Rolls-Royce Holding plc (OTCMKTS: RYCEY) To Sell Its Stake In AirTanker For £189 Million

Operation Vala Zonke launched in Northern Cape

The Premier of the Northern Cape, Dr Zamani Saul, together with the MECs for Roads and Public Works, Ms Fufe Makatong, and Transport, Safety and Liasion, Ms Nomandla Bloem, joined by a team from SANRAL led by the Regional Manager, Mr Randal Cable, today launched the roll out of the provincial leg of Operation Vala Zonke. This is a national campaign aimed at repairing potholes.

Response to a Social Media post of a patient living with a disability waiting for a file

South Africa: Limpopo department of health has noted the story circulating on social media of a patient living with disabilities waiting for a file at Siloam Hospital.

Dominica continuously making new investments in education sector

Roseau, Dominica: The government of Dominica is making a new investment in the education sector without taking any break. The goal of the Caribbean country is to prepare youngsters for the future and utilize the new, modern technologies in order to advance the sector.

Official opening of Eastern Cape Arts Exhibition

South Africa: The Eastern Cape Arts Exhibition opened today at the Nelson Mandela Metropolitan Art Museum in St. George's Park.

Rolls-Royce Holding plc (OTCMKTS: RYCEY) and Babcock International Group Plc have sold their 39%  interest in AirTanker Holdings Ltd for $435 million, with the UK company looking to enhance its depleted balance sheets.

Rolls-Royce selling its 23% stake in AirTanker 

According to a release on Monday, Equitix Investment Management Ltd. will pay £189 million for Rolls’ 23.1% interest in the air-to-air refueling firm, which serves the Royal Air Force of the United Kingdom, and £126 million for Babcock’s 15.4% stake. The repayment of shareholder loans is included in both figures.

Rolls-Royce and Babcock have begun recovery efforts and are selling assets in order to concentrate on their core businesses. After the coronavirus affected demand for its huge airplane engines, Rolls intends to generate more than £2 billion via disposals. Babcock CEO David Lockwood is attempting to raise at least £400 million after years of unsatisfactory results.

Despite selling AirTanker Holdings, Rolls-Royce and Babcock will keep their stakes in the services arm, which offers operational support to the RAF’s 14 converted Airbus SE A330 aircraft, known as Voyagers.

Following the revelation, Roll-Royce shares were up 1%, while those of Babcock jumped 0.8%. Both firms are UK-based. 

Buyers targeting UK aerospace and defense firms 

The UK defense and aerospace companies have become targets for a potential acquisition by various buyers, including Private-equity companies. The government is looking at PE-owned Cobham Ltd.’s proposed takeover of Ultra Electronics Holdings Plc. At the same time, business Secretary Kwasi Kwarteng has indicated that he’s keeping an eye on Parker-Hannifin Corp.’s bid to acquire components supplier Meggitt Plc for £6.3 billion.

According to a statement from Ashurst, the law firm assisting the two manufacturers on the sale, the AirTanker sale depends on regulatory approval and should close by the end of 2021. After that, Airbus SE and Thales SA will continue to control the majority of the business. 

Operation Vala Zonke launched in Northern Cape

The Premier of the Northern Cape, Dr Zamani Saul, together with the MECs for Roads and Public Works, Ms Fufe Makatong, and Transport, Safety and Liasion, Ms Nomandla Bloem, joined by a team from SANRAL led by the Regional Manager, Mr Randal Cable, today launched the roll out of the provincial leg of Operation Vala Zonke. This is a national campaign aimed at repairing potholes.

Response to a Social Media post of a patient living with a disability waiting for a file

South Africa: Limpopo department of health has noted the story circulating on social media of a patient living with disabilities waiting for a file at Siloam Hospital.

Dominica continuously making new investments in education sector

Roseau, Dominica: The government of Dominica is making a new investment in the education sector without taking any break. The goal of the Caribbean country is to prepare youngsters for the future and utilize the new, modern technologies in order to advance the sector.

Official opening of Eastern Cape Arts Exhibition

South Africa: The Eastern Cape Arts Exhibition opened today at the Nelson Mandela Metropolitan Art Museum in St. George's Park.

Deputy Minister Nocawe Mafu congratulates Team SA on pocketing more medals at the 2022 Commonwealth Games

Birmingham (UK): Team South Africa added four more medals to their collection at the ongoing Commonwealth Games in Birmingham on Saturday.

Female law enforcement officers kick off women’s month with special operations

South Africa: 3816 (Three thousand eight hundred sixteen) vehicles were checked, and 184 traffic fines were issued at roadblocks conducted by 238 female law enforcement officers and other stakeholders across the five municipal districts in the province.