Carlyle, KKR and CVC among bidders for Rolls-Royce’s ITP Aero

Private equity firms Carlyle, CVC and KKR are reportedly among the bidders for engine maker Rolls-Royce’s Spanish business, ITP Aero.

According to Spain’s El Economista, bidders will be selected this week for the auction, which is valued at around €1.5bn.

It cited sources as saying that Towerbrook, in a consortium with Onex, was also among the bidders.

Less likely to join the bidders are other interested parties such as Platinum, German manufacturer MTU or Investindustrial. El Economista said the final decision on which candidates are chosen will be made before the end of the week.

Rolls-Royce tried to sell ITP Aero to Spanish information technology and defence systems company Indra Sistemas in 2019, but talks between the two parties ended without an agreement.

At 10:00 GMT, the shares were up 4% at 108.37p.

Source: ShareCast