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 acquired an 80% stake in Embraer's commercial jetliner business for $3.8 billion, forming a joint venture controlled by Boeing but with management based in Brazil.
- This strategic move positions Boeing to intensify competition with Airbus, which recently acquired Bombardier's CSeries jet program.
- The companies also plan a separate joint venture focused on defense products and services, in which Embraer will hold a majority interest.
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