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Embraer President, Paulo Cesar de Souza e Silva, said Wednesday in the state that talks for the sale of part of the Brazilian aircraft manufacturer to Boeing are about to to conclude. "We are in final negotiations," he said. The agreement will depend on the approval of the federal government.
The two companies will create a joint venture that will only concern the commercial aircraft sector of Brazil, leaving aside the military and executive segments.
The division into the new company's interest should be 80% for Boeing and 20% for Embraer. Boeing should award a 50% premium on the value of Embraer shares, according to the state. The agreement will include the exchange of shares and cash.
One of the obstacles to the talks between aircraft manufacturers – the composition of the board of the new company – has progressed in recent weeks: the Brazilian should have at least one seat in the collegiate, which will have between 9 and 11 seats, according to the state learned.
Following the announcement of the agreement between the companies, the implementation of the federal project will still depend on the approval of the Government and the approval of the national regulatory agencies and international organizations, in addition to the boards of directors of the companies.
Government interlocutors estimate that it will take between three and four months for the checks and legal badessments of the negotiation. Only at the end of this process, the government will be formally provoked and will manifest itself to give or not the agreement.
Jobs. Embraer's gold share, which gives it the right to veto important decisions, the Brazilian government has established that in addition to preserving autonomy in the the company's defense zone, maintaining jobs will be one of the main guidelines to approve the creation of the new company. In the list of strategic issues defined by Brasília as essential for the company is also the technological development capability.
An aide to President Michel Temer said that it is necessary "to join two interests and find points of convergence. The preservation of "highly skilled" jobs, at a time like this, is a "strategic" issue, with the guarantee of aircraft parts supply and maintenance being also considered central to the operation of the aircraft. ;business. The concern of the Palazzo Plbadto, however, is not to convey the message of interference in the negotiations. The subject is treated as confidential due to the impact on the Embraer shares at B3, the São Paulo Stock Exchange. news that the agreement between businesses is close to being closed, Embraer shares closed the day with up to 4.35%.
Boeing's interest is ref with the acquisition, operate in medium-sized commercial aviation, a segment in which Embraer is the leader.
The agreement, which involves, for example, the manufacture of 150 – seat aircraft, has been negotiated since last year, when Airbus knocked out the global market by announcing the. purchase of 50.1% of the Bombardier Commercial Jet Program of Canada
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