A mega deal that some wondered whether it would ever come to fruition is now a done deal. Boeing is taking control of Embraer’s commercial jetliner business, agreeing on Thursday to pay $3.8 billion for a larger slice of the global plane making pie that puts the world’s biggest plane makers on a collision course after rival Airbus inked a similar deal to take over Bombardier’s CSeries jet program.
Boeing Inks Deal to Take Over Embraer’s Commercial Jetliner Business
Key Takeaways:
- Boeing has finalized a deal to acquire an 80% stake in Embraer's commercial jetliner business for $3.8 billion, forming a new joint venture valued at $4.75 billion.
- This acquisition directly positions Boeing to compete with rival Airbus, which recently took over Bombardier's CSeries jet program.
- The agreement also includes a separate joint venture for defense products and services where Embraer will hold a majority interest, while Boeing will control the commercial venture despite its management being based in Brazil.
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