Boeing's Marriage with Embraer Gets Brazilian Approval
The strategic partnership between Boeing and Embraer has received unconditional approval by the Administrative Council for Economic Defense (CADE)'s General-Superintendence (SG) in Brazil. The decision will become final within the next 15 days unless a review is requested by CADE Commissioners. With this latest approval, the partnership has now received unconditional clearance from every regulatory jurisdiction with the exception of the European Commission, which continues to assess the deal. Unconditional clearance for the partnership has now been granted in Brazil, United States, China, Japan, South Africa, Montenegro, Colombia, and Kenya. Boeing and Embraer have been in discussion with the European Commission since late 2018, and continue to engage with the Commission as it proceeds through its assessment of the transaction. 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% and Embraer will hold 20%. The other joint venture is to promote and develop markets for the multi-mission medium airlift C-390 Millennium (Boeing Embraer – Defense) in which Embraer will own a 51% stake and Boeing will own the remaining 49%.