50 SKY SHADES - World aviation news

Embraer and Boeing Welcome Brazilian Government Approval of Strategic Partnership

Download: Printable PDF Date: 13 Jan 2019 05:07 categories:
Publisher:
Embraer and Boeing Welcome Brazilian Government Approval of Strategic Partnership - Finance publisher
Tatjana Obrazcova
Aircraft: Airplanes

 Embraer and Boeing have welcomed approval by the Government of Brazil of the strategic partnership that will position both companies to accelerate growth in global aerospace markets.

The government's approval comes after the two companies last month approved terms for the joint venture that will be made up of the commercial aircraft and services operations of Embraer. Boeing will hold an 80 percent ownership stake in the new company and Embraer will hold the remaining 20 percent. 

The companies have also agreed to the terms of another joint venture to promote and develop new markets for the multi-mission medium airlift KC-390. Under the terms of this proposed partnership, Embraer will own a 51 percent stake in the joint venture, with Boeing owning the remaining 49 percent. 

Once Embraer's Board of Directors ratifies its prior approval, the two companies will then execute definitive transaction documents. The closing of the transaction will be subject to shareholder and regulatory approvals and customary closing conditions. Assuming the approvals are received in a timely manner, the transaction is intended to close by the end of 2019. 

Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed terms of the transaction, the ability of the parties to satisfy the conditions to executing or closing the transaction and the timing thereof, and the benefits and synergies of the proposed transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and neither party undertakes an obligation to update or revise any forward-looking statement, except as required by law. Specific factors that could cause actual results to differ materially from these forward-looking statements include the effect of global economic conditions, the ability of the parties to reach final agreement on a transaction, consummate such a transaction and realize anticipated synergies, and other important factors disclosed previously and from time to time in the filings of The Boeing Company and/or Embraer with the Securities and Exchange Commission.

 



Loading comments for Embraer and Boeing Welcome Brazilian Government Approval of Strategic Partnership...


Recommended

Milano Prime 2019 traffic growth numbers are more than impressive

Business&General Aviation traffic in Milan in December in the two airports managed by Milano Prime – Linate Prime and Malpensa Prime - registered an overall growth of 19.4%. The gr...

FACC received CAAC Part-145 maintenance organization approval

CAAC has granted FACC approval as a maintenance organization according to Part-145. This CAAC certification represents a further milestone for the Austrian aerospace group in its latest "Aft...

Record set at Vaclav Havel Airport Prague: 17.8 Million Handled Passengers in 2019

Based on the latest operating results, Prague Airport handled a total of 17,804,900 passengers in 2019. That means that approximately one million more passengers passed through the airport t...

Etihad Cargo IATA CEIV certification opens membership to Cool Chain Association and Pharma.aero

On the back of its recent successes in obtaining IATA CEIV certifications for both its pharma and fresh products, Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, has announced...