Boeing to buy aerospace parts maker KLX for about $3.2b

Bengaluru: Plane maker Boeing Co said on Tuesday it will buy aerospace parts company KLX Inc for about $3.2 billion (Dh11.7 billion) in cash to expand its aircraft services business. The $63-per-share deal gives KLX an enterprise value of $4.25 billion, including about $1 billion of net debt. The planemaker said there will be no change to its 2018 guidance or capital deployment strategy and expects annual cost savings of about $70 million by 2021.The acquisition is contingent upon the successful divestment and separation of KLX’s Energy Services Group business, KLX said.