|Bid||97.12 x 0|
|Ask||97.24 x 0|
|Day's range||92.06 - 99.46|
|52-week range||1.57 - 711.00|
|Beta (5Y monthly)||1.66|
|PE ratio (TTM)||N/A|
|Earnings date||11 Mar 2021|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||23 Apr 2020|
|1y target est||974.81|
(Bloomberg) -- MTU Aero Engines AG is exploring a bid for ITP Aero, the Spanish aircraft parts supplier being sold by Rolls-Royce Holdings Plc, people familiar with the matter said.The German engine manufacturer, which is working with advisers, would face stiff competition from several private equity firms, the people said. Rolls-Royce is launching the sale this week, according to the people, who asked not to be identified because discussions are private.MTU spokesman Eckhard Zanger said that while the company’s long-term strategy is generally focused on organic growth, “we observed the situation at ITP and took notice that Rolls-Royce has announced a disinvestment.” He declined to comment specifically on a potential bid.A spokesman for Rolls-Royce declined to comment.The London-based manufacturer is seeking to divest the Spanish unit as part of a plan to raise more than 2 billion pounds ($2.7 billion) from asset disposals as the pandemic hits core revenue from wide-body engine sales and maintenance. MTU already partners with ITP on projects including the narrowbody A320neo engine, the A400M military transport aircraft and the Eurofighter jet.Carlyle Group, CVC Capital Partners, KKR & Co. and a consortium of Towerbrook Capital Partners and Onex Corp. are among buyout firms interested in ITP Aero, Spanish newspaper El Economista reported earlier, citing unidentified people in the financial industry. The business could fetch about 1.5 billion euros ($1.8 billion), the publication reported.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Rolls-Royce expects to burn through £4.2bn of cash this year, higher than previously expected, as it announced plans to axe another 500 jobs in 2020. The aerospace giant said it still aims to return to positive cash flow sometime in the second half of next year, but anticipates it will go through more than £1bn in cash a quarter during the crisis, 5pc higher than it estimated in August. Shares fell almost 7pc to 118p in afternoon trading on Friday. It came as the FTSE 100 company revealed plans to shed a further 500 jobs in 2020, bringing the total number of cuts this year to 5,500, as it seeks to reduce costs by £1bn this year to weather the Covid storm. Rolls said it would take "several years" for demand for its engines to recover, and plans to shed a total of 9,000 roles by the end of 2022, or 15pc of its workforce. The company has also launched a consultation process to transfer its facility and workforce at Hucknall, Nottingham to Spanish arm ITP Aero. It said: "We are also proposing to consolidate the manufacture of aero-engine structures into ITP Aero. These difficult but necessary decisions will help generate efficiency savings for the group and strengthen ITP Aero's capabilities." Rolls was hammered by a near-total halt to global air traffic at the beginning of the crisis and a slow recovery in demand. Flying hours for its turbines reached 33pc of last year's levels in October and November, it said.
Today we're going to take a look at the well-established Rolls-Royce Holdings plc (LON:RR.). The company's stock saw a...