Brazilian Government Approves Boeing-Embraer Joint Ventures

The proposed joint venture between Boeing and Brazil's domestic aerospace and defence supplier has received the approval of the country's government, the companies announced on 10 January. Having evaluated the terms of the deal and determined that it was consistent with the country's sovereignty and national interest, the office of President Jair...

The proposed joint venture between Boeing and Brazil's domestic aerospace and defence supplier has received the approval of the country's government, the companies announced on 10 January.

Having evaluated the terms of the deal and determined that it was consistent with the country's sovereignty and national interest, the office of President Jair Bolsonaro released a statement the same day confirming that the country would not make use of the power of veto it holds thanks to its 'golden share' in Embraer.

The transaction, which must now be formally accepted by Embraer's board of directors, concerns Embraer's commercial aircraft and services activities, 80% of which will be acquired by Boeing under terms agreed between the two companies in December 2018.

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Source: www.janes.com