Boeing to have 51pc stake in Embraer JV

BRASILIA: Boeing Co will have a 51 per cent stake in a joint company currently being negotiated with Brazilian aircraft maker Embraer, O Globo newspaper columnist Lauro Jardim reported. Boeing has agreed to a Brazilian government demand that the US company have no more than a 51 per cent controlling share, Jardim said, without citing sources.
Embraer said it would not comment on the matter. Boeing did not respond to a request for comment.
Boeing has sought Brazilian government approval of the partnership with Embraer that would create a new company focused on commercial aviation, excluding Embraer’s defence unit, Reuters reported three weeks ago.
The Valor Economico newspaper later reported that Boeing’s proposal would give it an 80 per cent to 90 per cent stake in a new commercial jet business with Embraer. — Reuters