Williams agree deal to sell majority stake of Williams Advanced Engineering

Williams have announced the sale of the majority stake of their Williams Advanced Engineering to EMK Capital as they look to further the long term growth of the product.

The deal will see Williams retain a "significant minority interest" in the product. EMK Capital, an equity firm will continue to invest and support the product to aid its growth in the years to come.

The deal between the two parties is expected to be completed within the next few weeks.

"This expertise and our technologies in areas such as electrification, lightweight structures, aerodynamics and precision manufacture will become even more relevant and in-demand globally going forward," Craig Wilson, Managing Director of Williams Advanced Engineering, said in a statement.