Boeing has obtained approval from European authorities for the acquisition of Spirit AeroSystems, valued at 4.7 billion dollars.

The approval came after Boeing agreed to sell certain assets of Spirit to address competition concerns. The transaction, announced last year, aims to optimize Boeing's operations and improve quality control, considering that the giant had previously outsourced the production of key components to Spirit.

The European Commission warned that the acquisition could significantly reduce competition in the global aerospace structures market. To address these concerns, Boeing will sell the Spirit divisions that supply parts for Airbus and the factory in Malaysia that produces structures for this competitor. The transaction also requires approval from U.S. authorities and is expected to be finalized in this quarter.