The General Superintendence of Cade (Administrative Council for Economic Defense) approved the agreement between the Brazilian Embraer and the American Boeing companies without restrictions.
The endorsement was given on Monday afternoon (27) by Cade's superintendent-general, Alexandre Cordeiro Macedo. As the operation was not restricted, companies will not be required to take measures such as selling assets to competitors.
The superintendency's approval is, in theory, final. But, according to Cade's regulations, it can still be contested by any of the board members within 15 days. In that case, he will go to court for deliberation in a collegiate body.
In technical opinions, the municipality concluded that the companies do not compete in the same markets and that there is no risk of competitive problems arising from the acquisition.
The agreement involves two corporate movements. In one of them, Boeing will have 80% of Embraer's commercial aviation area (which will be called "Boeing Brasil - Commercial"). The Brazilian will have 20% of this division, responsible for developing, producing, and selling airplanes with up to 146 seats.
According to Embraer's market announcements, Boeing will pay US $ 4.2 billion to the Brazilian company for the deal.
In another move, it will have 49% of EB Defense - a company to be created jointly with Embraer (which will have 51%) for activities aimed at the KC-390, defense, and security aircraft. The companies will do the final assembly of the model in a facility to be built in the United States, sell it globally, and offer after-sales services (such as maintenance, repair, and overhaul).
Translated by Kiratiana Freelon