The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker/File Photo
January 10, 2019
SAO PAULO (Reuters) – Brazil’s newly installed President Jair Bolsonaro on Thursday approved a tie-up between Brazil planemaker Embraer <EMBR3.SA> and Boeing <BA.N>.
Embraer will sell 80 percent of its commercial aviation business to Boeing in the deal. The government holds a so-called “golden share” in Embraer, a private company, that allows it to veto important business decisions. The deal must still be approved by shareholders.
(Reporting by Marcelo Rochabrun; Editing by Sandra Maler)