January 10, 2019 / 9:25 PM / 5 months ago

Brazil's Bolsonaro approves Boeing-Embraer tie-up

SAO PAULO, Jan 10 (Reuters) - Brazil’s newly installed President Jair Bolsonaro on Thursday approved a tie-up between Brazil planemaker Embraer and Boeing.

Embraer will sell 80 percent of its commercial aviation business to Boeing in the deal. The government holds a so-called “golden share” in Embraer, a private company, that allows it to veto important business decisions. The deal must still be approved by shareholders. (Reporting by Marcelo Rochabrun; Editing by Sandra Maler)

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