Embraer: Brazil defense minister against change in control (translated)
29 DEC 2017
The Brazilian defense minister, Raul Jungmann, is against the sale of a controlling stake at Embraer [NYSE:ERJ], the Brazilian-based aircraft manufacturer, Valor Economico reported.
In a press conference, the minister said that the control of Embraer is a matter of national sovereignty and should not be changed. However, he is not against a partnership with Illinois-based Boeing [NYSE: BA], the item added.
As previously reported, Boeing and Embraer are in talks for a potential combination of their operations. The Brazilian government has a “golden share” in Embraer, giving it the power to block any deal that implies a change in control, as reported.