Brazil­ian court de­lays Boe­ing deal

San Antonio Express-News - - BUSINESS -

A Brazil­ian fed­eral court has at least tem­po­rar­ily blocked a $4.75 bil­lion joint ven­ture be­tween Boe­ing and Em­braer un­til the in­com­ing gov­ern­ment takes of­fice.

The two aero­space com­pa­nies an­nounced their in­ten­tions in July to cre­ate a merger to run Em­braer’s com­mer­cial avi­a­tion busi­ness. The deal would re­sult in Boe­ing holding 80 per­cent of the re­sult­ing com­pany and Em­braer the re­main­ing 20 per­cent.

Boe­ing de­clined to com­ment. Em­braer sent a state­ment to The Associated Press say­ing it will ap­peal.

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