Brazil’s Administrative Council of Economic Defense (CADE) has approved Boeing’s acquisition of Brazilian planemaker Embraer’s commercial aviation division without placing any restrictions on the deal, though CAD’s principal administration council could still reconsider the situation and settle the case through a vote. It follows clearance from jurisdictions such as the USA, China, Japan, South Africa, Montenegro, Colombia, and Kenya so now, Boeing only has to wait for approval from the European Commission.
After halting the process in November 2019, the European body resumed its work on the probe on January 6, 2020, setting April 30 as the deadline for the decision. However, on January 21, 2020, the investigation was suspended once again. The Boeing-Embraer joint venture has two elements to it. One will comprise commercial aircraft and services, with Boeing holding 80% and Embraer 20%. The other joint venture will develop markets for Embraer’s C-390 Millennium tactical transport, in which Embraer will own 51% and Boeing 49%.Email Post to a Friend