Exclusive: Boeing bid for Embraer unit faces EU antitrust probe - sources
Business News
September 23, 2019 / 7:00 AM / Updated 2 hours ago
Foo Yun Chee 2 Min Read
BRUSSELS (Reuters) - Boeing is set to face an EU antitrust investigation of up to five months into its bid for a controlling stake in the commercial aircraft arm of Brazil’s Embraer, people familiar with the matter said on Monday.
The deal, marking the biggest shift in commercial aerospace in decades, would reshape a global passenger jet duopoly and reinforce Western planemakers against newcomers from China, Russia and Japan.
It would give Boeing a foothold in the lower end of the market, enabling it to better compete with the CSeries jets designed by Canada’s Bombardier Inc and backed by European rival Airbus SE.
The deal values the Embraer unit at $4.75 billion.
https://www.reuters.com/article/us-embraer-m-a-boeing-eu-exclusive/exclusive-boeing-bid-for-embraer-unit-faces-eu-antitrust-probe-sources-idUSKBN1W8127