Boeing and Embraer have secured unconditional approval from the Administrative Council for Economic Defense’s (CADE) General-Superintendence (SG) in Brazil for their strategic partnership.
Under this partnership, the two companies have planned to embark on two joint ventures, namely Boeing Embraer-Defense and Boeing Brasil-Commercial.
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Boeing Embraer-Defense will develop new markets for the C-390 Millennium multi-mission airlift and air mobility aircraft. Embraer will own 51% the JV with Boeing holding the remaining 49%.
Boeing Brasil–Commercial will cover the commercial aviation operations of Embraer. Boeing will hold an 80% interest while Embraer will hold the remaining 20%.
Unless requested by CADE commissioners for evaluation, the resolution will be final in the next 15 days.
Boeing’s Embraer Partnership & Group Operations president Marc Allen said: “This latest clearance is yet another endorsement of our partnership, which will bring greater competition to the regional jet marketplace, better value for our customers and opportunities for our employees.”
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By GlobalDataThe partnership has already secured unconditional approvals from various regulatory jurisdictions, including Brazil, the US, China, Japan, South Africa, Montenegro, Colombia and Kenya.
The deal is yet to clear the European Commission assessment, who currently is reviewing the proposal.
Since late 2018, Boeing and Embraer have been constantly following-up with the European Commission regarding the transaction.
Allen added: “Given the positive endorsement we’ve seen from customers across Europe and the unconditional clearance we’ve received from every other regulator who has considered the transaction, we look forward to securing final approval for the transaction as soon as possible.”
