LONDON—Rolls-Royce said it had agreed to sell its Spanish unit ITP Aero to a consortium led by Bain Capital Private Equity for 1.7 billion euros ($2 billion), helping the British engineering group hit its 2 billion pound target for disposals.
The sale, announced on Monday, sent Rolls-Royce shares soaring 11 percent to 148 pence, their highest level since March 2020 in the early weeks of the pandemic, on the view that recovery of Britain’s most famous industrial name is underway.
