A Brazilian judge on Friday suspended negotiations for the tie-up of Brazilian aircraft maker Embraer SA and Boeing Co, according to a court document. The court issued an injunction suspending an Embraer shareholders meeting scheduled for Feb. 26 that would vote on whether to approve the terms already agreed upon by the two companies.
The Brazilian government on Thursday said it would allow a proposed tie-up between plane makers Embraer SA and Boeing Co to go forward, capping weeks of uncertainty in which President Jair Bolsonaro expressed his hesitation.
A Brazilian judge Thursday blocked yet again the merger of the commercial division of Embraer with Boeing, despite a joint announcement to the contrary a few days ago.
A Brazilian federal court has overturned a provisional injunction that blocked a proposed tie-up between plane makers Embraer and Boeing, Embraer said on Monday in a securities filing. Brazil's Embraer announced in July its intention to sell 80% of its commercial aviation business to Chicago-based Boeing for US$ 3.8 billion. Embraer has said the deal is crucial for its survival.
A Brazilian federal court on Thursday suspended a proposed US$ 4.75 billion tie-up between US aerospace giant Boeing and the civilian business of Brazilian plane-maker Embraer pending the government of president-elect Jair Bolsonaro taking office.
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.
United States manufacturer Boeing Co sought to calm Brazilian concern about a potential tie-up with Embraer SA after President Michel Temer and other officials warned they would veto any full takeover bid for the regional jet maker.
Canada has urged the World Trade Organization to block attempts by Brazil to trigger a detailed investigation of its aerospace industry to buttress its case that subsidies to Bombardier caused “serious prejudice” to Brazil’s Embraer. The procedural move by Canada comes a month after the WTO agreed to set up a panel to investigate Brazil’s claim that Canada provided harmful aid to the CSeries jet.
Brazil will launch its first own satellite to protect the transfer of privileged national security information while boosting the broadband capacity of the country later this month. The Geostationary Satellite Defense and Strategic Communications Satellite (SGDC) will be launched on March 21 from the Kourou Space Center in French Guiana. The event is taking place nearly a year after the original launch plan of April 2016.
Brazil's aircraft manufacturer Embraer has agreed to pay some US$205 million to settle corruption charges involving sales of military and civil airplanes to four customers. records to conceal illicit payments.