Brazil court blocks Boe­ing-Em­braer tie-up

The Korea Times - - WORLD - SAO PAULO (AFP)

— A Brazil­ian fed­eral court on Thurs­day sus­pended a pro­posed $4.75 bil­lion tie-up be­tween U.S. aerospace gi­ant Boe­ing and the civil­ian busi­ness of Brazil­ian plane-maker Em­braer pend­ing the gov­ern­ment of pres­i­dent-elect Jair Bol­sonaro tak­ing of­fice.

The Sao Paulo court said it was it was tak­ing ac­tion to avoid “pos­si­ble con­crete acts” be­ing taken on the avi­a­tion deal be­fore the new ad­min­is­tra­tion comes in un­der Bol­sonaro, who takes over on Jan. 1.

The court added it was sus­pend­ing “any con­crete ef­fect” of the Em­braer board’s de­ci­sion over trans­fer­ring com­mer­cial oper­a­tions to Boe­ing.

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