Boeing (NYSE:BA) won European Union antitrust approval for its planned $4.7 billion acquisition of Spirit AeroSystems (NYSE:SPR).
The conditional approval requires Boeing (NYSE:BA) to sell all Spirit’s businesses that currently supply Airbus (OTCPK:EADSF) with aerostructures and to sell Spirit’s site in Malaysia, according to a statement on the European Commission’s website on Tuesday. The EC had until today to decide on the transaction.
Boeing (NYSE:BA) unveiled the $4.7 billion deal last July, a transaction that also involves Airbus (OTCPK:EADSF) (OTCPK:EADSY) assuming control of Spirit’s (NYSE:SPR) struggling operations in Europe. The deal approval comes after Boeing offered concessions to the regulator last month.
Shares of Spirit AeroSystems (NYSE:SPR) ticked higher by 0.2%.