Boeing takes over Mangusta for $11 billion

Seattle (AP) Boeing is buying MangustA Yachts and two other Seattle-based yachting companies for $10 billion, making it the world’s largest yacht owner and the largest private-equity firm.

The sale is expected to close by the end of the year.

Boeing says it will pay $10.2 billion for Mangust and $3.4 billion for the other two companies.

MangustA has a fleet of 604 yachties and a fleet size of about 3,500 vessels, according to its website.

The companies were founded in 2004 and have been around since 2006, according a news release.

The announcement comes as Washington and other states grapple with the opioid crisis, which has forced thousands of people to seek help and sent thousands of ships and aircraft to the U.S. coast.

A federal judge on Tuesday ordered the Trump administration to begin issuing a nationwide emergency order on the opioid epidemic, after Trump signed an executive order in February that suspended federal funding to help states respond to the crisis.