Rolls Royce Unveils Share Buyback Scheme

Rolls Royce (RR.L) today announced news that it has committed to a £1Bn share buyback scheme subject to the completion of the sale of its Energy gas turbine and compressor business to Siemens. The sale announced on 6 May this year, is expected to complete by the end of 2014.

John Rishton, CEO of Rolls-Royce, said: “As no material acquisitions are planned, and reflecting the strength of our balance sheet, we will return the proceeds of the Energy sale to our shareholders”.

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