Embraer Calls Feb. 26 Shareholder Meeting to Vote on Boeing JVs
January 24 2019 - 6:14PM
Dow Jones News
By Stephen Nakrosis
Brazilian aircraft manufacturer Embraer SA (ERJ) on Thursday
announced it scheduled has a shareholder meeting to vote on
proposed joint ventures with Boeing Co. (BA).
Under the terms of one deal, Boeing, which is based in Chicago,
will take an 80% stake in Embraer's commercial airplane and
services business. The Sao Paulo, Brazil-based Embraer will own the
remaining 20%.
The companies also agreed to terms for another joint venture
that will promote and develop new markets for the KC-390 aircraft.
Under the terms of this proposed partnership, Embraer will own a
51% stake in the JV, while Boeing will own the remaining 49%.
Embraer said the meeting will be held Feb. 26 at the company's
headquarters in Sao Jose dos Campos.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 24, 2019 17:59 ET (22:59 GMT)
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