-Boeing said on Monday it would buy its struggling supplier Spirit AeroSystems in a $4.7 billion all-stock deal which was finalized after months of talks, as the aerospace giant tries to solve a full-blown safety and regulatory crisis that has engulfed its key supplier as well.

The total transaction value is about $8.3 billion, including Spirit’s last reported net debt, Boeing said.

The company added that each share of Spirit common stock will be exchanged for a number of shares of Boeing common stock equal to an exchange ratio between 0.18 and 0.25, resulting in an equity value of about $37.25 per share.

Boeing said that Airbus will acquire certain commercial work packages that Spirit performs for Airbus with the closing of the Boeing-Spirit merger.

Boeing also said that Spirit is proposing to sell certain of its operations, including those in Belfast, non-Airbus operations in Northern Ireland, Prestwick, Scotland, and Subang, Malaysia.

The transaction is expected to close mid-2025.

The Spirit deal is part of a broader framework between Boeing and its European rival, Airbus, the two dominant global commercial plane manufacturers, to separate Spirit facilities.

The one-time Boeing subsidiary also supplies Airbus, which does not want Boeing making key parts for its aircraft.

(Reporting by Mike Stone and David Shepardson in Washington, Allison Lampert in Montreal and Shivansh Tiwary, Abhijith Ganapavaram and Shivani Tanna in Bengaluru; Editing by Arun Koyyur, David Gaffen and Matthew Lewis)