Boeing (NYSE: BA) and Embraer have received unconditional approval for their strategic partnership from Brazil’s regulatory agency.
The European Commission continues to review the partnership, which has secured unconditional clearances in the U.S., Japan, Montenegro, Kenya, Colombia, China and South Africa, Boeing said Monday.
The decision of Brazil’s Administrative Council for Economic Defense’s General-Superintendence will become final within the next 15 days unless CADE commissioners request another assessment.
“This latest clearance is yet another endorsement of our partnership, which will bring greater competition to the regional jet marketplace, better value for our customers and opportunities for our employees,” said Marc Allen, president of Embraer partnership and group operations at Boeing. “We have been productively engaged with the Commission to demonstrate the pro-competitive nature of our planned partnership, and we look forward to a positive outcome.”
The partnership includes the formation of two joint ventures. Boeing will own a 49 percent stake in a JV – Boeing Embraer-Defense – that will establish markets for the C-390 Millennium multimission aircraft, while the other venture will focus on commercial aircraft and services operations.
