EU Set to Approve Boeing's $4.7B Spirit Acquisition With Conditions
Boeing's $4.7 billion acquisition of Spirit AeroSystems is on track to receive EU approval, but with certain conditions. The deal aims to help Boeing tackle production challenges.
The European Union is set to approve the takeover, but with specific conditions. These include the sale of Spirit's factories in Prestwick, Scotland, and Subang, Malaysia, which primarily serve Airbus. According to insiders, Airbus is expected to take over these parts of the business.
Boeing is also expected to divest its Belfast plant, which does not serve Airbus. The UK's competition authority has already given the green light to the takeover without any conditions. The EU's final decision is due by October 14.
The acquisition seeks to address production issues faced by Boeing. The company hopes that integrating Spirit's capabilities will help improve its production efficiency and quality.
Boeing's takeover of Spirit AeroSystems is expected to be approved by the EU with conditions that include the sale of certain factories serving Airbus. The deal aims to boost Boeing's production capabilities and is set to be finalised by mid-October.
