RYCEY Rolls Royce Holdings PLC (PK)

By Ian Walker

LONDON--Rolls-Royce Holdings PLC (RR.LN) said Tuesday it is selling its Michell Bearings business to British Engines Ltd. for 12.6 million pounds ($19.13 million) in cash, which will be used for working capital requirements.

Subject to license consents, the sale will be completed in the autumn, Rolls said.

"The agreement announced today will allow Rolls-Royce to concentrate on the core areas of our Marine business where we can add most value," Mikael Makinen, Rolls-Royce, President - Marine said.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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