Aerospace
US aerospace giant Boeing and Brazilian aerospace major Embraer have jointly announced that they had signed a non-binding Memorandum of Understanding to create a commercial aviation joint venture (JV). Boeing will hold 80% of the JV and Embraer the remaining 20%. The deal has still to be approved by shareholders, regulators, and the Brazilian Government. All being well, the deal is expected to be closed by the end of next year, some 12 to 18 months after the implementation of the definitive agreements.
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