Boeing Bid for Embraer Unit Faces EU Antitrust Probe

Exclusive: Boeing Bid for Embraer Unit Faces EU Antitrust Probe – Sources (excerpt)

(Source: Reuters; published Sept. 23, 2019)

BRUSSELS --- Boeing is set to face a 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.

The European Commission, which has set an Oct. 4 deadline for its preliminary review of the deal, did not respond to a request for immediate comment. (end of excerpt)

Click here for the full story, on the Reuters website.

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