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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Embraer SA | BOV:EMBR3 | Bovespa | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.58 | 4.83% | 34.30 | 34.20 | 34.30 | 34.30 | 32.89 | 33.00 | 6,400,900 | 00:00:00 |
From May 2019 to May 2024
By Michael Dabaie
Embraer SA (ERJ) on Tuesday said its shareholders approved its proposed joint-venture partnership with Boeing Co. (BA).
During an extraordinary general shareholders meeting in Brazil, 96.8% of votes were in favor of the transaction, with participation of about 67% of all outstanding shares.
The deal establishes a joint venture made up of the commercial aircraft and services operations of Embraer. Boeing will hold an 80% ownership stake in the new company.
The transaction values Embraer's commercial aircraft operations at $5.26 billion, with a value of $4.2 billion for Boeing's 80% ownership stake in the joint venture.
Embraer shareholders also agreed to a joint venture to promote and develop new markets for the multi-mission medium airlift KC-390. Embraer would own a 51% stake in the joint venture.
The Brazilian government approved the proposal in January.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
February 26, 2019 09:27 ET (14:27 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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