Embraer, Boeing deal gets approval from the new Brazilian government

World News: . []

The Brazilian government announced on Thursday that it had approved the creation of two joint ventures (JVs) between Brazilian aerospace company Embraer and US aerospace group Boeing. The Brazilian government holds a “golden share” in the originally State-owned Embraer, giving it power of veto over mergers, take-overs, and any other major changes within the company. Embraer will maintain full ownership of its business aviation and all its other defence, security, systems and space businesses. The first JV covers Embraer’s commercial aviation products, centred on its E-Jet and upgraded E-Jet E2 families of 70-seat to 146-seat airliners, but also including its 37-seat to 50-seat ERJ regional jet family. This JV will be 80%-owned by Boeing, for which the US group will be paying $4.2-billion (reportedly some 10% higher than its original offer), and 20% by Embraer. This JV is currently being referred to as NewCo.

Read More: http://www.engineeringnews.co.za/article/embraer-boeing-deal-gets-approval-from-the-new-brazilian-government-2019-01-11

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