Boeing scraps $4.2bln deal to buy Embraer commercial division

AFP

2020/04/26 | 543 words | LE JOURNAL DE L'AVIATION | INDUSTRY / TECHNOLOGY
Boeing scraps $4.2bln deal to buy Embraer commercial division © Boeing

Boeing announced Saturday it was pulling out of a $4.2 billion deal to acquire the commercial plane division of its Brazilian rival Embraer, the latest in a string of setbacks for the troubled US aviation giant.

The companies had planned to form a joint venture in which Boeing would take an 80 percent stake in that division. The deal had been due to be finalized no later than Friday.

But Boeing said Saturday it was exercising its right to pull out of a preliminary deal reached in July 2...(…)

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