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.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

November 18, 2019 08:38 ET (13:38 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
EMBRAER ON (BOV:EMBR3)
Historical Stock Chart
From Sep 2020 to Oct 2020 Click Here for more EMBRAER ON Charts.
EMBRAER ON (BOV:EMBR3)
Historical Stock Chart
From Oct 2019 to Oct 2020 Click Here for more EMBRAER ON Charts.