Boeing has announced authorities in Brazil have approved a planned partnership between Boeing and Embraer, the company said.
The approval for the pair´s two proposed joint ventures comes from Brazil´s Council for Economic Defense (CADE). It follows clearance from jurisdictions such as the USA, China, Japan, South Africa, Montenegro, Colombia, and Kenya. Only the European Commission has yet to approve it.
The decision is final in 15 days, unless CADE commissioners request a review. As for the European Commission, discussions have been underway with 2018.
The pact envisages the two companies forming two joint ventures. One will comprise commercial aircraft and services, with Boeing holding 80% and Embraer 20%.
The other joint venture will develop markets for Embraer´s C-390 Millennium tactical transport, in which Embraer will own 51% and Boeing 49%.