PARIS (Agefi-Dow Jones)–Aircraft manufacturer Boeing announced Monday that it had reached an agreement to acquire aeronautical equipment manufacturer Spirit AeroSystems for an amount of $4.7 billion.
According to this definitive agreement, the operation will be carried out by exchanging Spirit shares for Boeing shares.
Spirit is at the center of Boeing’s quality problems with its 737 MAX planes. Boeing has been negotiating for months a deal with the equipment maker, which it spun off two decades ago.
As part of the deal, Spirit AeroSystems is expected to sell off factories, particularly in Europe, that make parts for Airbus.
In a separate statement, Airbus announced that it had signed a binding agreement with Spirit relating to the potential acquisition of certain activities linked to the European aircraft manufacturer, including the production of fuselage sections of the A350 at Kinston in the United States as well as ‘in Saint-Nazaire.
“Airbus will be compensated by Spirit AeroSystems to the tune of $559 million, for a nominal consideration of $1, subject to adjustments, in particular depending on the final scope of the transaction,” explained the aircraft manufacturer.
-Alice Doré and Maylis Jouaret, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: DID
(Sharon Terlep, The Wall Street Journal, contributed to this article)
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July 01, 2024 01:01 ET (05:01 GMT)
