Approval for Rolls’ deal for Tognum

Rolls-Royce and Daimler have obtained the approval of regulatory authorities for the £3 billion acquisition of Tognum, the German engine and drive system specialist.

Rolls, which employs more than 39,000 people in offices, manufacturing plants and service facilities in some 50 countries, plans to combine Tognum with its own Bergen business, which makes engines used across the maritime and power generation sectors. Rolls generated underlying revenues of about £10.8 billion in 2010, of which more than half came from the provision of services.