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Boeing proposes joint venture with Brazilian aerospace firm Embraer

The US-based airline manufacturer, Boeing, has made a deal with the Brazilian aerospace company, Embraer to form a joint venture.

The proposed agreement will see Boeing take control of Embraer’s commercial jet business, expanding the US firm’s stake in the smaller passenger plane market.

As part of the deal, Boeing would acquire 80% of the Brazilian company’s commercial aircraft and services unit.

The business is anticipated to be worth US$4.75bn, with Boeing’s potential acquisition to be worth approximately $3.8bn.

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