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Siemens: sells Eaircraft business to Rolls-Royce

( - Siemens and Rolls-Royce today signed an agreement for the sale of the Siemens eAircraft unit at the Paris Air Show in Le Bourget.

Rolls-Royce aims to become the leading supplier of electric and hybrid propulsion systems for aircraft.

"The company's business with electric and hybrid-electric systems for aircraft will have substantially better growth perspectives with new owners closely connected to the aerospace industry," the group said.

The closing of the deal is subject to customary conditions and should be finalised by the end of 2019. The partners have agreed not to disclose the financial terms of the transaction.

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