Kongsberg’s £500 Million Acquisition of Rolls-Royce Commercial Marine Unit

Khaitan & Co advised Rolls-Royce Marine India Private Ltd in respect of the separation and sale of its commercial marine business.

Rolls-Royce executed the sale of its commercial marine business unit to Norwegian industrial group Kongsberg for £500 million.

The deal, worth $661 million or 566 million euros, is part of a massive overhaul led by chief executive Warren East.

The commercial marine division employs about 3,600 staff mainly in the Nordic region. Rolls-Royce expects net proceeds of £350 million to £400 million from the transaction.

Rolls-Royce Holdings plc manufactures aero, marine, and industrial gas turbines for civil and military aircraft. The company, led by Warren A East, Stephen Wayne Daintith and Declan Guerin, in 2018 recorded £16 billion revenues.

Khaitan & Co advised Rolls-Royce Marine India Private Ltd with a team including Atul Pandey (Picture), Hirak Mukherjee, Devesh Pandey (M&A), Ritu Shaktawat, Indruj Rai, Ayush A. Mehrotra (Tax) and Avnish Sharma and Kshitij Bishnoi (Real Estate).

Involved fees earner: Atul Pandey – Khaitan & Co.; Ritu Shaktawat – Khaitan & Co.; Avnish Sharma – Khaitan & Co.; Indruj Singh Rai – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Rolls-Royce Marine India Private Ltd;

Author: Michael Patrini