-Boeing mentioned on Monday it will purchase its struggling provider Spirit AeroSystems (NYSE:) in a $4.7 billion all-stock deal which was finalized after months of talks, because the aerospace large tries to unravel a full-blown security and regulatory disaster that has engulfed its key provider as effectively.

The overall transaction worth is about $8.3 billion, together with Spirit’s final reported web debt, Boeing (NYSE:) mentioned.

The corporate added that every share of Spirit widespread inventory can be exchanged for plenty of shares of Boeing widespread inventory equal to an trade ratio between 0.18 and 0.25, leading to an fairness worth of about $37.25 per share.

Boeing mentioned that Airbus will purchase sure industrial work packages that Spirit performs for Airbus with the closing of the Boeing-Spirit merger.

Boeing additionally mentioned that Spirit is proposing to promote sure of its operations, together with these in Belfast, non-Airbus operations in Northern Eire, Prestwick, Scotland, and Subang, Malaysia.

The transaction is predicted to shut mid-2025.

The Spirit deal is a part of a broader framework between Boeing and its European rival, Airbus, the 2 dominant international industrial airplane producers, to separate Spirit services.

The one-time Boeing subsidiary additionally provides Airbus, which doesn’t need Boeing making key elements for its plane.