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By Michael Dabaie
Boeing Co. (BA) and Embraer SA (ERJ) said their joint venture to develop new markets for the C-390 Millennium multi-mission airlift and air mobility aircraft will be called Boeing Embraer-Defense.
Embraer will have 51% ownership of Boeing Embraer-Defense, with Boeing holding the remaining 49%.
The C-390 Millennium partnership is one of two planned joint ventures between the companies.
Boeing Brasil-Commercial will be a joint venture for the commercial aviation operations of Embraer, with 80% owned by Boeing and 20% owned by Embraer. Both joint ventures remain subject to regulatory approval and the companies said they expect their transaction to close in early 2020.
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(END) Dow Jones Newswires
November 18, 2019 08:38 ET (13:38 GMT)
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