Boeing sues Embraer in arbitration over transaction failure between companies

The American corporation Boeing filed a lawsuit in an arbitration court against the Brazilian aircraft manufacturer Embraer because of a failed transaction between the companies, Reuters reported with reference to a statement from Embraer.

“Boeing has filed a lawsuit against a former partner – Embraer – in arbitration due to a failed transaction worth $ 4.2 billion,” the agency writes.

At the same time, in late April, Embraer sued Boeing. This happened after Boeing abandoned a joint venture with Embraer, which would lead to the actual merger of the two companies. The deal was supposed to be $ 4.2 billion, Boeing was supposed to buy 80% of the Embraer commercial aircraft division.

Boeing produces a wide range of civil and military aircraft, develops space programs. The Boeing structure has two large units – Boeing Commercial Airplanes, which is engaged in the construction of civil aircraft, and Integrated Defense Systems, which implements space and military programs. The staff is about 140 thousand people.

Embraer is a Brazilian aircraft conglomerate, one of the leaders in the global market for passenger regional aircraft. The company also produces corporate, military, agricultural aircraft.

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source: rambler

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