São Paulo – The partnership between Embraer and Boeing was approved by 96.8% of the shareholders valid votes of the Brazilian manufacturer in assembly held this Tuesday (26). The shareholders approved the proposal that will establish a joint venture composed by the commercial aircraft operations and Embraer related services. Boeing will own 80% of the new company while Embraer will own the remaining 20%.
According to Embraer, the transaction estimates that 100 per cent of the company’s commercial aircraft operation will value USD 5.26 billion and contemplates USD 4.2 billion for the Boeing participation. The Brazilian government approved the transaction in January 2019. Then, Embraer board confirmed its support. The conclusion of the deal is subjected to approvals from regulatory agencies and other conditions relevant to a transaction of this kind, which should occur by the end of 2019.
Translated by Guilherme Miranda
