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Norway Suspends Acquisition of Russian Firm

The Norwegian Government has not yet approved the sale of Bergen Engines (affiliated with Rolls-Royce Holdings) to Russia’s TMH Group. Norway’s NSM security agency has launched an investigation into the €150m company sale.

The NSM has begun assessing the security impact of the possible sale on the Norwegian Navy and the civilian sector. “There is significant uncertainty about national security interests,” Norwegian Justice Minister Monica Maeland told a news conference.

UK-based Rolls-Royce said it had decided to sell Bergen Engines, which makes engines for air platforms and ships, to help it recover from the economic crisis it has been hit by the pandemic. A Rolls-Royce spokesman also said they had properly informed the government before announcing the sale. The company announced the suspension of the sale process, as requested by the Norwegian government.

Bergen Engines is also a supplier to Norway’s Navy, a NATO member.

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