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Boeing-Embraer Deal Gets Brazilian Government Approval
While the European Union is delaying its ruling on the grounds of requiring additional information that provides sufficient proof that the market is not going to be more concentrated, the Brazilian government has finally approved the joint venture between Boeing and Embraer.
The Administrative Council for Economic Defense (CADE)’s General-Superintendence (SG) in Brazil has ruled in favor of the merger and its decision will become final within the next 15 days unless further review is required.
Both companies have discussed the terms of the deal with the European Commission since late 2018, and expect a final ruling no later than April 30.
The planned strategic partnership between Embraer and Boeing comprises two joint ventures: one joint venture made up of the commercial aircraft and services operations of Embraer (Boeing Brasil – Commercial) in which Boeing will own 80 percent and Embraer will hold 20 percent; and another joint venture to promote and develop markets for the multi-mission medium airlift C-390 Millennium (Boeing Embraer – Defense) in which Embraer will own a 51 percent stake and Boeing will own the remaining 49 percent.
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