Brazilian planemaker Embraer said on Tuesday a key shareholder meeting to vote o...
SAO PAULO - Brazilian planemaker Embraer said on Tuesday a key shareholder meeting to vote on the sale of 80 percent of its commercial aviation business to Boeing Co could proceed as scheduled on Tuesday, after it got an injunction overturned.
Under the proposed terms, Boeing will pay $4.2 billion to control Embraer’s most profitable division, its commercial aviation business. But critics say the arrangement will leave Embraer weaker and financially dependent on its two remaining divisions, executive jets and defense, both of which have posted losses in recent quarters.Brazil’s securities regulator late on Monday denied a separate request filed by minority shareholders to suspend the shareholder meeting.
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