"Airbus enters agreement with Spirit AeroSystems"
- BOOBASHKUMAR S
- Jul 2, 2024
- 1 min read
Airbus has entered into a binding term sheet agreement with Spirit AeroSystems regarding the potential acquisition of major activities related to Airbus[1][4][5]. The agreement covers the production of A350 fuselage sections in Kinston, North Carolina, U.S., and St. Nazaire, France; the production of A220 wings and mid-fuselage in Belfast, Northern Ireland, and Casablanca, Morocco; as well as the production of A220 pylons in Wichita, Kansas, U.S.[1][5]
With this agreement, Airbus aims to ensure stability of supply for its commercial aircraft programs through a more sustainable way forward, both operationally and financially, for the various Airbus work packages that Spirit AeroSystems is currently responsible for[1][5].
The transaction would cover the acquisition of these activities, with Airbus being compensated by a payment of $559 million from Spirit AeroSystems, for a nominal consideration of $1.00, subject to adjustments based on the final transaction perimeter[1][5].
Entering into definitive agreements remains subject to a due diligence process, and while there is no guarantee that a transaction will be concluded, all parties are willing and interested to work in good faith to progress and complete this process as timely as possible[1][5].
Concurrently, Spirit AeroSystems has entered into a definitive merger agreement under which The Boeing Company will acquire Spirit for $37.25 per share in Boeing common stock, representing an equity value of approximately $4.7 billion and an enterprise value of approximately $8.3 billion[2][3].
Citations:
Comentários