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Boeing pulled out of the multi-billion dollar deal to buy Embraer. The crisis caused by the coronavirus, with the stoppage of flights, and pressure from President Donald Trump were the sparks for the United States company to renounce the $ 4.2 billion agreement for the purchase of the Brazilian company, according to the published information. this Friday (24) by Veja magazine.
The negotiation involved a merger between the two companies, which would have 80% of the new company headed by Boeing. The agreement approved by Cade (Administrative Council for Economic Defense), had until this Friday to be ratified by the Americans.
According to sources heard by Veja, Embraer’s board knew that Boeing would withdraw and that the deal went down the drain. Pressure from President Trump, amid his government’s help to the company to deal with the airline industry’s difficulties in the pandemic, made the deal unfeasible.
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