[ad_1]
BRASILIA – The President Jair Bolsonaro said on Monday 27 that the government can negotiate the sale of Embraer to another company, after the American Boeing announced over the weekend that it gave up the purchase of the Brazilian commercial aviation division.
Press conference by President Jair Bolsonaro after the resignation of former Justice Minister Sergio Moro
Photo: CLÁUDIO REIS / FRAMEPHOTO / Estadão Contents
Twitter He emphasized that the decision is up to him, since the federal government has the so-called gold share, which gives the government veto power in the company’s strategic decisions.
“We are evaluating, I have the golden part, it is mine, I sign, okay? If the agreement really falls apart, maybe a new negotiation with another company will begin,” he said as he left the Alvorada Palace with the Minister of Economy, Paulo Guedes.
On Saturday 25, the Boeing announced that it has closed negotiations to buy the commercial aviation division of Embraer. The companies announced the $ 4.2 billion deal in July 2018, and the end of the talks leaves the Brazilian company in a delicate position. The withdrawal occurs amid paralysis of the air sector due to the pandemic of the covid-19.
The Brazilian aircraft maker held a conference call with investors on Monday and announced, in a material fact sent to the Brazilian Securities and Exchange Commission (CVM), that it started arbitration proceedings in the fall of the agreement.
In case they decide to prosecute the end of the negotiation, the dispute between the companies will have the Justice of the United Statesin the southern district of NY, as the parties defined in the memorandum of understanding.
See also:
