Embraer shareholders approve $4.2 billion deal with Boeing

February 26, 2019

SAO PAULO (Reuters) – Shareholders of Brazilian planemaker Embraer SA on Tuesday approved a deal to sell 80 percent of the company’s commercial jet division to Boeing Co, a move that could reshape the global market for aircraft of up to 150 seats.

Boeing made its bid following a similar deal between Airbus SE and Canada’s Bomardier Inc, which saw the European planemaker take a majority stake in the C Series jets, which compete directly with Embraer.

(Reporting by Marcelo Rochabrun)

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