Brazilian court bans the sale of Embraer national aviation concern
The merger of the Brazilian aircraft company Embraer with the concern Boeing re-canceled the Brazilian court on December 20.
The decision of the judge emphasizes that the transfer of 80% of the shares to the hands of Boeing under the terms of the transaction is contrary to the national interests of the country.
The decision of the court was made against the background of protests organized by the Embraer union. The management of the company stated that it would take all the necessary judicial measures in order to lift the ban.
Recall that the Embraer and Boeing merger project was announced by representatives of the companies on July 5, 2018. At the request made on behalf of the four deputies of the Brazilian parliament to the court, on December 7 a decision was made to cancel the transaction. However, the representatives of the companies immediately appealed, and the decision of the court was then canceled.
Recall also that the Brazilian Embraer is today the third largest company in the world in terms of production of civilian aircraft, second only to the concerns of Boeing and Airbus.