February 27, 2019 |
Shareholders in Brazil's Embraer have approved a deal to sell its commercial jet division to the US aircraft manufacturer Boeing.
Boeing agreed in December last year to pay $4.2bn for 80% of the business, up from an initial offer of $3.8bn.
The two companies also agreed to form a new company to make and market the KC-390 military transport plane, but Embraer will maintain sole control of its other military and business jet operations.
At a special meeting on Tuesday, shareholders representing
Brazilian and US aircraft manufacturers move closer to a $5.26bn tie-up