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Embraer did not meet certain contractual terms within the agreed period, Boeing said.
8:38 a.m., April 26, 2020
Then years of preparation has the American aircraft manufacturer Boeing one large planned acquisition in Brazil canceled. The Negotiations with Embraer have failedAmericans said Saturday. Boeing had wanted to take 80 percent of Embraer’s aircraft business for $ 4.2 billion to attack Airbus in up to 150 seats on medium-sized aircraft.
Embraer did not meet certain contractual terms within the agreed period, Boeing said. Therefore, complete the transaction. Brazilian aviation group Embraer, which previously described the deal as vital, reserved legal action against Boeing. In addition to the 20 percent stake in the joint venture, Embraer wanted to maintain control of its arms division and commercial aircraft division.
Boeing is currently experiencing the crown crisis. Several hundred orders have already been canceled. Two Boeing 737 MAX aircraft crashes in Indonesia and Ethiopia, which together resulted in 346 deaths, also damaged the Group’s reputation.
