Brazilian government opposes the acquisition of Embraer by Boeing
Sao Paulo - Boeing wants to take over Embraer or merge with the South American manufacturer. But Brazilian President Michel Temer is against the sale of the national aircraft manufacturer to the Americans.
Until Thursday afternoon (December 21), the government of Brazil didn't know of Boeing's intention to merge with Embraer or to take over the Brazilian aircraft manufacturer. After the first newspaper article did appear on the local press about the negotiations, the government has started to gather information. Afterwards, President Michel Temer discussed it with officials from the Ministry of Defense.
Although it is clearly emphasized on the plan of the two aircraft manufacturers that only the civilian branch of Embraer should be affected,
Under my government, Embraer will be never sold,said President Temer.
The state still has a veto right over a so-called Golden Stock despite privatization in 1994.
Boeing is ready to make concessions to Embraer. So the name and management of Embraer should be maintained and also a job guarantee to be given. But the two companies know that it will not be easy to convince everyone.
There is no guarantee that the talks will result in a transaction,they said.