SÃO PAULO and CHICAGO,
Jan. 10, 2019 /PRNewswire/ -- Embraer
[B3: EMBR3, NYSE: ERJ] and Boeing [NYSE: BA] have welcomed approval
by Government of Brazil of the
strategic partnership that will position both companies to
accelerate growth in global aerospace markets.
The government's approval comes after the two companies last
month approved terms for the joint venture that will be made up of
the commercial aircraft and services operations of Embraer. Boeing
will hold an 80 percent ownership stake in the new company and
Embraer will hold the remaining 20 percent.
The companies have also agreed to the terms of another joint
venture to promote and develop new markets for the multi-mission
medium airlift KC-390. Under the terms of this proposed
partnership, Embraer will own a 51 percent stake in the joint
venture, with Boeing owning the remaining 49 percent.
Once Embraer's Board of Directors ratifies its prior approval,
the two companies will then execute definitive transaction
documents. The closing of the transaction will be subject to
shareholder and regulatory approvals and customary closing
conditions. Assuming the approvals are received in a timely manner,
the transaction is intended to close by the end of 2019.
Forward-Looking Information Is Subject to Risk and
Uncertainty
Certain statements in this release may be
"forward-looking" within the meaning of the Private Securities
Litigation Reform Act of 1995, including statements regarding the
proposed terms of the transaction, the ability of the parties to
satisfy the conditions to executing or closing the transaction and
the timing thereof, and the benefits and synergies of the proposed
transaction, as well as any other statement that does not directly
relate to any historical or current fact. Forward-looking
statements are based on current assumptions about future events
that may not prove to be accurate. These statements are not
guarantees and are subject to risks, uncertainties and changes in
circumstances that are difficult to predict. Many factors could
cause actual results to differ materially from these
forward-looking statements. As a result, these statements speak
only as of the date they are made and neither party undertakes an
obligation to update or revise any forward-looking statement,
except as required by law. Specific factors that could cause actual
results to differ materially from these forward-looking statements
include the effect of global economic conditions, the ability of
the parties to reach final agreement on a transaction, consummate
such a transaction and realize anticipated synergies, and other
important factors disclosed previously and from time to time in the
filings of The Boeing Company and/or Embraer with the Securities
and Exchange Commission.
Media Contacts:
Chaz Bickers
Boeing Communications
charles.n.bickers@boeing.com
312-544-2002
Valtecio Alencar
Global Corporate Communications
Embraer
Valtecio.alencar@embraer.com.br
11-3040-6891
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SOURCE Embraer S.A.