Brazilian government OKs Boeing’s joint venture with Embraer for commercial jets

Boeing-Embraer merger going ahead after Bolsonaro approval

Both companies "welcomed" the approval in a joint declaration, stating: "The strategic partnership between Embraer and Boeing will enable both companies to accelerate growth in global aerospace markets".

Boeing and Embraer believe the joint venture has the potential to offer a commercial aircraft portfolio ranging from 70 seats to more than 450 seats. The company also produces corporate, military, agricultural aircraft.

But now the US$5.2 billion deal, which will see Boeing take control of Embraer's commercial airplane manufacturing business - 80 per cent of its operation - will go ahead.

It will pit Embraer's E-Jet family against the A220s in regional and medium-haul markets.

McLaren appoint ex-Porsche boss as F1 managing director
The team says that it expects two IndyCar chassis to be delivered in late January and they will be put together in Woking. Key will report to Seidl and head up the technical department comprising Peter Prodromou, Andrea Stella and Pat Fry.

While Embraer, the third largest manufacturer in the world behind Boeing and Europeans Airbus, was privatised in 1994, the Brazilian government retained a veto power of its strategic decisions. Definitive transaction documents will then be executed by both companies and shareholder and regulatory approval obtained.

The closing of the transaction will be subject to shareholder and regulatory approvals and is meant to be finalised by the end of 2019. The completion of the transaction is expected by the end of 2019, they said.

The US company will have operational and management control of the new company and it will be led by Brazil-based management that will report directly to the US company's chief executive. In December, a Brazilian court made a preliminary decision to suspend the creation of an alliance between Boeing and Embraer. In this joint venture Embraer will own 51% of the shares, and Boeing - 49%. In addition, the companies agreed to create another joint venture for the promotion and launch of the Embraer KC-390 medium-range aircraft.

Related:

  • AFC Championship Could Be Played At LA Coliseum

    AFC Championship Could Be Played At LA Coliseum

    The temporary home of the Los Angeles Rams , who are hosting the Dallas Cowboys on Saturday. It would simply be too much wear and tear for one gridiron to handle.
    Trump says changes coming on high-tech visas

    Trump says changes coming on high-tech visas

    Immigration officials are also requesting additional evidence and applying more scrutiny to applications than in the past. Trump, a Republican, has embraced changes to the immigration system to favor educated or highly skilled people.
    Sarri slams Bayern over Hudson-Odoi interest

    Sarri slams Bayern over Hudson-Odoi interest

    Sarri said he had recommended to Chelsea that two players be signed, but declined to say their positions. Fulham are among the clubs to have been linked with the Belgian striker .
  • Google is discontinuing the Chromecast Audio

    Google is discontinuing the Chromecast Audio

    Sarah Tew/CNET "Our product portfolio continues to evolve, and now we have a variety of products for users to enjoy audio". The news about the killing of Chromecast first appeared on Reddit , and it was then reported by Android Police .
    Healthcare guaranteed for all New Yorkers, says Bill de Blasio

    Healthcare guaranteed for all New Yorkers, says Bill de Blasio

    The mayor also proposed free vison tests and prescription eyeglasses to any kindergartner or first-grader who needs them. This office will spearhead the city's anti-harassment initiatives program and "root out the worst landlord abuse".
    Pucovski gets shock Australia call-up as Marsh brothers dumped

    Pucovski gets shock Australia call-up as Marsh brothers dumped

    The tour match begins next Thursday, and like the first Test at the Gabba is a day-night fixture to be played with the pink ball. Sri Lanka will also play a day-night pink ball tour match in Hobart beginning January 17.
  • Florida pardons wrongly accused ‘Groveland Four’ after 70 years

    Florida pardons wrongly accused ‘Groveland Four’ after 70 years

    Later, a criminologist told a court that he thought law enforcement officers had manufactured forensic evidence in Irvin's case. The state's clemency board voted to posthumously pardon four men who were wrongly accused of raping a woman seventy years ago.
    Thousands of child bride requests approved by the US

    Thousands of child bride requests approved by the US

    In the meantime, USCIS developed a system that flags applicants for minors and requires officials to verify their birth date. Citizenship and Immigration Services "approved 3,595,447 petitions for spousal or fiancé entry into the United States".
    Australian teenager dies in Austria avalanche

    Australian teenager dies in Austria avalanche

    BBC Weather forecaster Alina Jenkins said heavy snow hit Germany , Austria, Turkey and the Balkans on Thursday (10 January). Sydney student Max Meyer was on a holiday to Austria with his family when he was tragically caught in an avalanche.
  • Alexis Sanchez absent from Man United squad ahead of Tottenham game

    Alexis Sanchez absent from Man United squad ahead of Tottenham game

    United dominated Spurs during Ferguson's days in charge and one of his pre-match team talks has gone down in football folklore. And to have the possibility to see him every day is massive.
    HTC Announces Vive Eye-Tracking Technology and Game Subscription Package

    HTC Announces Vive Eye-Tracking Technology and Game Subscription Package

    Launching on April 5, VivePort Infinity will allow users to sign up and gain instant access to more than 500 titles in the store. This includes titles from indie developer and shorter experiences you might not have trusted to spend your money on before.
    Bank of Canada keeps interest rate unchanged

    Bank of Canada keeps interest rate unchanged

    Consumption and housing investment have also been weaker than expected as lending rates increased. Crude oil gained sharply today on positive headlines relating to China & U.S trade talks.

Comments

Latest news

Holiday sales not helpful for all
The driver of comparable digital sales growth, which came in up 29%, was store-fulfilled digital sales. Consensus estimates are calling for $4.23 in EPS and $25.01 billion in revenue for the coming year.

Midwest winter storm turns deadly on roads
The southern half of Iowa is getting ice and snow, and below Missouri, cold rain is falling on the Sun Belt. It is poised to leave a blanket of snow this weekend over more than 1,500 miles from Denver to Washington.

Inter Milan president Zhang insists Icardi staying
The figures being talked about in Italy aren't true and we haven't received a satisfactory proposal from Inter yet. We believe that Mauro is at a superior level", she continued.

'The baby is not breathing': Hacienda HealthCare 911 call released
They are gathering DNA samples from the facility's male staffers and have appealed to the public for any information. Phoenix police released five minutes of audio Friday of a nurse calling for paramedics after the December 29 birth.

Leeds United in talks to sign Real Madrid keeper Kiko Casilla?
Leeds have been looking for a goalkeeper since November, when Chelsea loanee Jamal Blackman broke his leg in an under-23s match. Casilla started his career in the youth ranks at Real Madrid before then moving away to make his mark at senior level.

Fossilised blue tooth shows Medieval women’s involvement in manuscript production
One of the authors, Ohio State University professor Alison Beach, says it's "kind of bombshell" for the field of medieval history. Radiocarbon dating of the skeleton revealed the 45- to 60-year-old woman died between 997 and 1162.

Steve Buscemi's Wife Jo Andres Dead at 65
The 65-year-old became an artist back in 1980 and has since went on to be a filmmaker, choreographer and performer. Steve, who is probably best known for his roles in Reservoir Dogs, The Sopranos and Fargo was Jo's biggest fan.

Republican Steve King in white supremacy furore
King described himself - "like the Founding Fathers" - as an advocate for Western values and "simply a nationalist". Tom Emmer, R-Minn., wouldn't say whether the party will support King in his next election.

‘Rising star’ officer shot to death after responding to vehicle crash
A Northern California rookie policewoman who was shot and killed is being remembered as "the cop that any community would want". She had been on the job just a few weeks. "The officer sustained a bullet wound and was rushed to the UC Davis Medical Center".

Parkland shooting: Florida governor suspends sheriff over high school attack
The failure of the radio system added to the chaos that included SWAT teams not knowing where to land their helicopters. Peterson was in a position to engage Cruz and mitigate further harm to others, and he willfully decided not to do so.

Julián Castro announces 2020 presidential run
Two dozen others have signaled their intentions to do the same . Castro's dreams, he hopes, won't be deferred much longer. It's a testament that everybody counts in this country.

Lil Uzi Vert Announces He's Quitting Music
He recived his first number one hit featuring on Migos' Bad and Boujee, which was nominated for a Grammy for Best Rap Performance. With the support of Atlantic, Uzi rose to fame with his "Luv is Rage" mixtape and subsequent " Lil Uzi Vert vs".

Huawei employee arrested over alleged spying
He also said no further details would be released now about the case because it is classified and the investigation is ongoing. Last month, a senior European Union official warned that the bloc should be "worried" about Huawei and other Chinese firms.

Meghan Markle announces royal patronages for the arts, women, education and animals
The Duchess of Sussex wore a chic, workwear-inspired outfit today as she paid a visit to one of her first patronages Smart Works . Meghan has always been a vocal supporter of animal welfare and she rescued her dog Guy from a shelter in 2015.

Trump Administration Floating Some Names For Last Head Of The World Bank
However, some pundits say that the global financial community is not prepared for a non-American nominee at the moment. Ivanka has experience working with the Trump Organisation and managing her own lifestyle and fashion brand.

Other news