Pratt & Whitney and Rolls-Royce Close on Deal for Program Share in IAE

Pratt & Whitney, a United Technologies Corp. (NYSE: UTX) company, closed June 29 on its agreement to purchase Rolls-Royce’s program share in IAE International Aero Engines (“IAE”). More information about the closing will be announced by IAE at the Farnborough Air Show on July 9.

Click here to read Pratt & Whitney's press release. 

Coverage:

• R-R Divests IAE Holding, Unveils Partners For New Joint Venture (Aviation Week)
• Rolls-Royce Sells Stake In IAE Collaboration for $1.5 Billion (Dow Jones)
• Pratt & Whitney closes on buyout of Rolls-Royce’s IAE shares (Air Transport World)