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The Brazilian government decided to release Embraer to negotiate with Boeing to create a new company in the commercial zone. According to a source that accompanies the negotiations, the government should not interfere in what it considers a "purely commercial phase". According to this source, the government will only position itself when it is formally consulted.
According to this source, a memorandum of understanding should be published in the coming days. The agreement between the two companies was announced at the end of last year and could lead to the creation of a third company, in which Boeing would have an 80% stake and Embraer, 20%. %.
On Wednesday 4, the common shares of the company (with voting rights) are highly appreciated on the stock market. At 12:40 pm, paper traded at 26.88 reais, up 3.54%. In comparison, the index with the main shares of B3, Ibovespa, increased by 0.24%, to 73,844 points.
The President of the Republic, Michel Temer
Photo: Ueslei Marcelino / Reuters
Press Release Embraer confirmed in a statement sent to the CVM that the two companies continue to maintain agreements, "including through the working group in which the Brazilian government is participating, to evaluate the possibilities of a potential business combination, which may involve the segregation of commercial aviation activities of other activities of Embraer (especially in the field of defense and business aviation). "
"In this context, the agreements between the parties continue to progress and, when the structure of a business combination is defined, its implementation will be subject to the approval not only of the Brazilian government, but also national and international regulators.We recall that the company will keep its shareholders and the market aware of the evolution of the case in question, "said the statement. Embraer.
The company answered a question from B3, the São Paulo Stock Exchange, about a report published in the state.
Michel Temer
On Tuesday, President Michel Temer met in the afternoon with Ministers Raul Jungmann (Public Security); General Joaquim Silva e Luna (Defense); Sergio Etchegoyen (Office of Institutional Security); and Lt. Brigadier Nivaldo Luiz Rossato (Commander Air Force).
Holders of a large part of Embraer since its privatization in 1994, the federal government participated in the negotiations of both companies. Yesterday, Temer received insight into how the talks are going.
Medium size
Boeing's interest is in enhancing its acquisition of medium-sized commercial aviation, segment in which Embraer is one of the three largest manufacturers in the world. The agreement, which concerns for example the manufacture of aircraft with 150 seats, is being negotiated since last year when Airbus surprised the world market by announcing the purchase of 50, 1% of Bombardier's commercial jet program.
After the completion of the case with Boeing, the Embraer brand used in commercial jets would cease to exist, surviving only in aircraft produced by Embraer Defense, such as KC 390 and Tucano. The proposed badociation provides that Embraer Defense holds a minority stake in the revenues of the new company, created after Embraer's entry into Boeing.
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