Sheppard Mullin Represents Boeing in $900 Million Sale of Commercial Airplanes Operations
On June 16, The Boeing Company completed the sale of its Commercial Airplane operations in Kansas and Oklahoma to Onex Corporation, a publicly traded company in Canada. These facilities manufacture structural components for Boeing's 737, 747, 757, 767, 777 and 787 aircraft. The value of the transaction to Boeing includes approximately $900 million in cash plus the assumption of significant liabilities. Onex will enter into long-term supply agreements with Boeing that provide Boeing ongoing cost savings. This transaction is part of Boeing's strategy to focus on large-scale systems integration and to transfer manufacturing to lower cost providers. Representing Boeing was partners Larry Braun, John Bonn, Mark Spitzer, Ethna Piazza, and associate Justin Yslas. Also contributing to the transaction were partners Charles Barker, David Bosko, Richard Brunette, Anthony Callobre, Ken Carl, John Chierichella, James Lonergan, Bill Manierre, Peter Menard, Steve O'Neil, Matthew Richardson, Edward Schiff, Randy Short, Richard Simmons, Brette Simon, Jerry Slaby, Martin Smith, Tara Wilcox, of counsel John Temple, special counsel Steve Miller, senior attorney Donna Hueckel and associates Nathaniel Bruno, Michael Chan, Will Chuchawat, David Gallacher, Eileen Gorman, Hank Heyming, Chris Jaenike, Jeff Kaye, Chris Loveland, Steve Mullins, Rebekah Prince, Jeff Shieh and Matthew Scheflen.