Boeing-Embraer's Proposed Joint Venture Hits Legal Hurdle in Brazil
20 Dezembro 2018 - 9:24PM
Dow Jones News
By Maria Armental
A Brazilian federal judge again sought to block Boeing Co.'s
(BA) planned takeover of Embraer SA's (ERG, EMBR3.BR) commercial
jetliner business, citing Brazil's national and military
interests.
A similar challenge earlier this month was reversed on appeal.
Embraer said in a statement Thursday it again plans to appeal the
decision.
Under the terms of the agreement, Chicago-based Boeing would
take an 80% stake in Embraer's commercial airplane and services
business, and control 51% of the joint venture.
The deal requires approval from Brazil's government, which has a
golden share in Embraer that gives it veto power.
Boeing declined to comment on the matter.
--Andrew Tangel contributed to this article.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
December 20, 2018 18:09 ET (23:09 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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