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FTSE 100 engine manufacturer Rolls-Royce (LON:RR.) has completed the sale of its commercial marine division today with estimated net proceeds of £350-400 million. During 2018, the division reported revenues of £725 million and an underlying loss of £35 million.
Rolls-Royce will continue to operate in the high speed commercial marine market through its MTU brand and Bergen Engines operation.
The price of Rolls-Royce shares rose by 1.68% to 918.40p (as of 15:45 GMT).