Jane Edwards
The government of Brazil has approved the strategic partnership between Boeing and Embraer.
Boeing said Thursday the approval came a month after both firms agreed on terms for a new joint venture to establish new markets for the KC-390 military transport aircraft.
Under this JV, Boeing will own 49 percent of the new business that will offer the multmission airlifter platform.
Both companies also approved the terms for a new commercial aviation-focused JV in which Boeing will hold an 80 percent ownership stake and Embraer will own the remaining 20 percent.
The transaction is subject to regulatory and shareholder approvals and other customary closing conditions and is expected to conclude by the end of this year.
