Rolls-Royce completes sale of Energy gas turbine and compressor business

Rolls-Royce has completed a deal announced earlier this year to sell its Energy gas turbine and compressor business to Siemens for a £785m cash consideration.

The FTSE 100 group is planning to return the proceeds of the sale to shareholders by way of a £1bn share buyback.

Shares in the company had risen 1.93% to 858.77p by 10:40.