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247 – PDT pre-candidate for president, Ciro Gomes, avoided commenting on Michel Temer's government's decision to approve the sale of Embraer to Boeing in a new operation. delivery
In an interview with Valor Econômico published in March this year, Ciro promised to reverse the operation. "Embraer, I'll take it back," Cyrus said at the time. "By privatizing, in Brazil, by definition, we deliver to foreign capital," he added.
Prosecutor by 247 to comment on the case, Ciro's lawyer has not responded.
Read the Reuters report on the subject:
(19659003) (Reuters) – Embraer reached an agreement with the US company Boeing to form a joint venture that will involve the builder's commercial aviation zone The new company to be created after the approval by the authorities, including the Brazilian government, will mark Boeing's entry into the segment of small commercial aircraft and will give more
The Memorandum of Understanding signed by Boeing and Embraer evaluates the commercial air operations of the Brazilian airline, the main division of the world's third largest aircraft manufacturer, Boeing will have 80% of the company resulting from the transaction, a share valued at 3.8 billion. Embraer dollars, the third largest exporter of Brazil, will hold the remaining 20% of the new company
Embraer shares closed the day with a decline of more than 14%, the largest daily decline since July 2016. BTG Pactual badysts estimated that the value attributed by the operation to the Embraer operations was lower than expected. Since the end of December, when the first reports of the potential agreement were released, Embraer shares have accumulated an appreciation of nearly 65% by Wednesday.
The companies partnership follows the alliance between Airbus and Bombardier last year and represents the largest realignment of the global aviation market for decades by strengthening established Western manufacturers against the new ones. came from China, Russia and Japan, according to badysts
Paulo Cesar Silva, director of Embraer told company officials on a note seen by Reuters that the consolidation in the chain of Aerospace supply was also one of the reasons behind the Boeing deal.
"It happened with our suppliers and with our customers, they started organizing in large blocks, making it difficult to negotiate the size of Embraer companies."
The partnership between Boeing and Embraer, which adds Boeing models 70- to 130-seat aircraft, is expected to boost the company's profit-making starting in 2020, generating annual savings of about 150 million US dollars. Here the third year, the companies said.
The Union of Metallurgists of São José dos Campos, where one of the main Embraer factories said in a statement that they would accuse the federal government and the National Congress of to oppose the operation "which jeopardizes national sovereignty and thousands of jobs in the aviation sector … This is the only sector of intense technology that has a surplus in the Brazilian trade balance. "
DEFENSE AND EXECUTIVE AVIATION
Embraer will transfer much of its debt to the new venture and Boeing must pay for its cash stake, Brazilian officials told badysts of the # 39; industry. 20% of cash payment will go to taxes and the rest can be divided between share buybacks, special dividends, deleveraging and new product development, executives said.
President Embraer told officials in the note that Embraer will lift its $ 1 billion box when Boeing's activities are completed, which will further invest in new projects.
Embraer will maintain the division of military products and jet aircraft under its control. Despite fears over the US's influence over Embraer's defense programs, recent signals issued by President Michel Temer and military officials suggest that the government is satisfied with the terms of the war. proposed alliance
. Brigadier Nivaldo Luiz Rossato, of the Air Force, said Embraer was to badyze proposals for partnerships with other companies that may find themselves without resources for investments.
The finalization of the financial and operational details of the strategic partnership and the negotiation of the definitive agreements should continue in the coming months, but the transaction should be finalized by the end of the year 2019 if the Regulatory approvals and shareholders take place on time a federal government source said the agreement announced Thursday would likely be approved in Brasilia.
"This important partnership fits clearly into Boeing's long-term strategy of investing in organic growth and return on investment," he said. Value for shareholders, complemented by strategic agreements that enhance and accelerate our growth plans, "said Dennis Muilenburg, Boeing's President.
The agreement also provides for the creation of another joint venture to promote and develop new markets and applications for products. and defense services, particularly the KC-390
The alliance between Boeing and Embraer took shape more than two years after the idea was presented internally to the board of directors of Boeing and reflects an old affinity between the two. Aerospace manufacturers, a source close to the negotiations said.
However, pressure for an agreement intensifies
"The Boeing-Embraer announcement confirms the market's strong potential in the 100-150 seat category," Airbus said through a door -Movie. "Boeing and Embraer follow Airbus and Bombardier."
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