(Updated with details)
July 1 (Reuters) – Boeing said on Monday it would buy Spirit AeroSystems for $4.7 billion in an entirely equity-financed transaction that comes after months of negotiations between the aircraft manufacturer and one of its key suppliers.
In parallel with Boeing’s statement, Airbus said it had reached an agreement with Spirit AeroSystems to take over some of the company’s struggling operations as part of Spirit’s deal with Boeing.
The European aircraft manufacturer said it would pay the symbolic sum of one dollar for Spirit’s assets, which will compensate Airbus to the tune of $559 million.
Boeing said the total value of the deal was about $8.3 billion, including Spirit AeroSystems’ most recently reported net debt.
The transaction is expected to be completed by the middle of next year. (Mike Stone and David Shepardson in Washington, Tim Hepher in Paris; French version Jean Terzian)
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