Boeing, Embraer Joint Venture Gets Shareholder Approval

By Paul Riegler on 26 February 2019
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One of the original Boeing Dreamliners

One of the original Boeing Dreamliners

Boeing and Embraer announced that the companies’ planned joint venture received approval by Embraer shareholders.

The approval came at an Extraordinary General Shareholders’ Meeting on Tuesday at the company’s headquarters in Brazil, where 96.8% of all valid votes were in favor of the transaction, with 67% of all outstanding shares voting.

Under the terms of the agreement, Boeing will take control of Embraer’s commercial aircraft and services business and with an 80% ownership stake. Embraer will continue to own 20% and will also maintain control of its defense and business jet units.

The transaction still requires multiple regulatory approvals and the satisfaction of other customary closing conditions. Boeing and Embraer plan to close the transaction by the end 2019.

(Photo: Accura Media Group)

Accura News

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