Rolls-Royce Holdings
On 11 July 2016, Rolls-Royce Holdings announced that it was in the process of purchasing the outstanding 53.1% shareholding in the IPT joint venture in exchange for €720m. The deal was promoted as increasing Rolls-Royce's long-term aftermarket revenues, along with its stake in various defense-related manufacturing and services programmes, such as the EuroProp consortium that produce the TP400 engine. During December 2017, final approval from Spanish authorities was received for the takeover.