January 28, 2019 |
Brazil's Embraer said it will invest at least $1.5bn in a new joint venture with the US aircraft manufacturer Boeing.
The new company, in turn, will assume $4.5bn in debt from Embraer and its subsidiaries, according to the terms of the $5.26bn merger.
Embraer said it signed the transaction agreement on January 24 and called a shareholder meeting on February 26 to approve the transaction. The Brazilian government endorsed the deal earlier this month.
Under the terms of the agreement, Boeing will
Brazilian aircraft manufacturer will contribute at least $1.5bn to the new company