Brazilian planemaker Embraer SA has been thrust into an uncertain future with no immediate plan B, while not ruling out seeking a bailout after Boeing Co jettisoned a US$ 4.2 billion commercial aerospace tie-up amid the coronavirus crisis.
Technical staff at Brazilian antitrust regulator Cade on Monday approved Boeing Co's purchase of Embraer SA's commercial aviation division without restrictions, according to a statement on the agency's website.
The proposed strategic partnership between Boeing and Embraer was approved today by Embraer’s shareholders during an Extraordinary General Shareholders’ Meeting held at the company’s headquarters in Brazil.
Brazilian jailed former president Luiz Inacio Lula da Silva pledged on Friday to block or undo privatizations if he is returned to the office he held from 2003 to 2010.
Embraer SA Chief Executive Officer Paulo Souza e Silva said the company is in the final stage of talks to combine operations with Boeing Co, newspaper Valor Economico reported on its website late on Wednesday. Souza e Silva, attending an event hosted by the paper, declined to elaborate on details of the agreement and described the negotiation as complex.