Airbus SE (stock exchange symbol: AIR) has signed a binding term sheet agreement with Spirit AeroSystems for a potential acquisition of key activities related to Airbus. This includes the production of A350 fuselage sections in Kinston, North Carolina, U.S., and St. Nazaire, France; A220 wings and mid-fuselage in Belfast, Northern Ireland, and Casablanca, Morocco; and A220 pylons in Wichita, Kansas, U.S.
The agreement aims to stabilize supply for Airbus’s commercial aircraft programs and provide a more sustainable operational and financial path for the work packages currently handled by Spirit AeroSystems.
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The deal involves Airbus acquiring these activities, with Spirit AeroSystems compensating Airbus with $559 million for a nominal consideration of $1.00, subject to adjustments based on the final transaction scope.
Finalizing the agreement is contingent on a due diligence process. Although there is no guarantee of completion, all parties are committed to working in good faith to advance and finalize the process as quickly as possible.
