Norway suspends sale of Rolls-Royce subsidiary to Russian group

OSLO, March 9 (Reuters) – Norway has put on hold a planned sale by British engine maker Rolls-Royce of its Bergen Engines subsidiary to a Russian group, while it assesses the impact of the sale, which involves one of Norway’s biggest suppliers. navy, the Ministry of Justice said on Tuesday.

Norway’s National Security Agency (NSM) values ​​the sale of Bergen Engines to Russian group Transmashholding TMH at 150 million euros, according to the ministry.

Rolls-Royce announced in early February that it had signed a sale agreement with TMH for its subsidiary as part of a major asset sale program aimed at generating more than £2 billion.

Bergen Engines is, among others, a supplier of the Norwegian Navy, a member of NATO.

“It is possible that the sale of Bergen Engines AS to the TMH Group could harm national security interests,” Justice Minister Monica Maeland said.

All preparatory work for the purchase must be suspended until the Norwegian authorities complete their investigation, the ministry added.

Although Norway welcomes foreign investment, potential threats to national security should not be set aside, he continued.

“The security situation requires us to closely monitor foreign investment in strategic industries,” explained Monica Maeland.

The Minister added that he plans to hold a special session on this issue in Parliament. (Terje Solsvik, French version Laura Marchioro, edited by Blandine Hénault)