Boeing, Embraer tie-up faces more confrontation in Brazil
A Brazilian court blocked Boeing-Embraer tie-up for the second time this month, after its first injunction was overturned. Simultaneously, the legality of the proposed deal of the two manufacturers is questioned by Brazilian investors association, which filed a motion in court.
The news, as reported by Reuters on December 20, 2018, comes just days after Embraer and Boeing approved the terms of their proposed joint venture, as announced on December 17, 2018. As per agreement, Boeing would acquire a controlling 80% stake in Embraer’s commercial aviation in a deal valued at $4.2 billion.
While the deal is already approved by the United States President, quite a different story is evolving in Brazil, where the transaction has to be approved by both the government and Embraer’s board of directors.
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