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KBR Agrees to Acquire Defense Firm Centauri for $800 Million

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KBR Inc. agreed to acquire national security and space contractor Centauri LLC for about $800 million, as the onetime construction firm seeks to boost its presence in the fast expanding space market.

KBR will buy the company from private equity firm Arlington Capital Partners and plans to fund the purchase with around $300 million in cash and $500 million of debt, according to a statement on Wednesday, confirming an earlier Bloomberg News report. The parties expect to close the transaction in the fourth quarter.