Economics
Boeing Extends Bet on Parts, Services in $3.25 Billion KLX Deal
- Purchase furthers CEO’s goal to build a $50 billion division
- KLX founder Amin Khoury to run new spinoff of oil and gas unit
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Boeing Co. is boosting its bet on a new services division with Chief Executive Officer Dennis Muilenburg’s biggest deal yet.
The world’s largest planemaker will buy aerospace parts distributor KLX Inc. for $3.25 billion while also taking on about $1 billion of net debt. The deal is contingent on the separation of KLX’s energy business, which the company plans to spin off to shareholders.