Latin American Economy & Business - March 2018 (ISSN 1741-7430)

Boeing finding a way to do Embraer deal: According to reports in the Brazilian press, giant US aerospace company Boeing may be making progress in its attempts to take over Brazil’s Embraer. The proposed acquisition ran up against the Brazilian government’s opposition on national security grounds. Government officials, who hold a ‘golden share’ in Embraer giving them the right of veto, said they were not prepared to see the defence side of the Brazilian company’s business going into foreign ownership. However, according to a report in newspaper O Globo on 25 February, government officials have agreed to the two companies forming a commercial aviation joint venture (JV) in which Boeing will have an equity stake that will not exceed 51%. Embraer’s defence unit would not be part of the JV. Embraer is the world’s third-largest airplane manufacturer after Boeing of the US and Europe-based Airbus. It is the world leader in the regional commercial jet segment (70 to 130 seat aircraft).

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