Rolls-Royce has signed an agreement to sell its civil nuclear instrumentation and control (I&C) business to French firm Framatome.
The I&C business unit includes all of Rolls-Royce activities and teams based in Grenoble in France, Prague in the Czech Republic and Beijing and Shenzhen in China.
The agreement does not include its civil nuclear business or small modular reactor activities in the UK.
Warren East, Rolls-Royce CEO said: “This transaction marks a further simplification of our business and contributes towards our target to generate over £2bn from disposals.
“We also believe it represents the best outcome for this part of our civil nuclear operations and its people.”
The transaction is expected to be completed in the second half of 2021, subject to closing conditions, including regulatory approvals.
The two businesses, in the meantime, will remain independent and will continue to operate as normal.
Bernard Fontana, CEO of Framatome added: “The purchase of the Rolls-Royce civil nuclear I&C business aligns with our strategy to ensure the continuity of a strong skill base and to expand our footprint for long term operations.
“We are committed to helping our customers sustain their nuclear power plants as reliable and competitive sources of low carbon electricity well into the future.”