Safran SA (SAF) bought Rolls-Royce Holdings Plc (RR/)’s stake in their RTM322 engine venture, giving the French manufacturer full control of the program that provides power for helicopters including Boeing Co. (BA:US)’s Apache.
Safran paid 239 million euros ($387 million) for the stake, according to a statement today. Revenue from the Rolls-Royce portion is about 85 million euros a year, Safran said in April when an agreement was announced.
Turbomeca, the helicopter engine unit of Safran, will assume full responsibility for managing the design, production and support of the engine, which powers the Apache, EH101 Merlin and NH90 helicopters. Rolls will progressively transfer its operational responsibilities in the program to Turbomeca over several years, the U.K. company said in a statement.
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