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Rolls-Royce ends talks with Singapore, Kuwait funds: Sky

Bloomberg
Bloomberg10/1/2020 08:37 AM GMT+08  • 2 min read
Rolls-Royce ends talks with Singapore, Kuwait funds: Sky
Rolls-Royce has lost more than 80% of its value this year, touching a fresh 17-year low on Wednesday.
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Rolls-Royce Holdings Plc ended talks to raise 500 million pounds ($881.79 million) from sovereign funds in Singapore and Kuwait and will instead seek to raise 2 billion pounds from existing shareholders, Sky reported.

Current owners opposed the dilution that would occur bringing outside investors into the 2.5 billion-pound fundraising effort, the outlet reported, citing a person familiar with the matter.

The U.K. maker of aircraft engines is likely to unveil a financing package as soon as Thursday that also includes additional borrowing power, Sky said.

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