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Brazil judge freezes Boeing-Embraer deal. Again

Staff Writer | December 20, 2018
A Brazilian judge on Thursday issued his second injunction blocking the proposed sale of 80 percent of planemaker Embraer’s commercial aviation division to Boeing.
LatAm   Embraer said it “will take all necessary judicial measures”
The same judge issued a similar injunction earlier this month that was swiftly appealed and overturned last week. The latest decision was in response to a class action filed by Embraer’s union in Sao Jose dos Campos, where the planemaker is based.

Embraer said it “will take all necessary judicial measures” to overturn the injunction. Boeing declined to comment.

Boeing and Embraer said on Monday they had finalized the terms of the agreement, increasing the valuation of the Brazilian planemaker’s commercial division to $5.26 billion, citing higher closing costs. The net proceeds will remain the same.