Brazil approves Boeing-Embraer partnership, committing to keep local jobs

The Brazilian government on Thursday said it would allow a proposed tie-up between planemakers Embraer and Boeing to go forward, capping weeks of uncertainty in which President Jair Bolsonaro expressed hesitation.

The approval maintains the terms of the deal as previously proposed, with Embraer selling 80 percent of its commercial plane division, its most profitable, for $4.2 billion to Boeing, which will have total control of the new venture.

By CNBC Markets

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