Brazil association takes fight against Embraer-Boeing deal to Europe
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December 6, 2019 - by oo Yun Chee for reuters.com
An association representing minority investors in Brazil is lobbying European antitrust regulators to spike a deal between planemakers Embraer SA (EMBR3.SA) and Boeing Co (BA.N), calling it a killer acquisition.
Aurelio Valporto, the head of minority investor association Abradin, said the European Commission should block Boeing's proposed $4.2 billion purchase of 80% Embraer's commercial passenger jet division or demand hefty concessions.
"What will be left from Embraer won't survive, and even if it was possible to survive, Embraer wouldn't be able to produce any aircraft with 50 passengers or more," Valporto said in an interview late on Wednesday, arguing that Embraer and Boeing planes compete in the marketplace.
Embraer's commercial jet division focuses on the 70 to 150-seat segment, competing directly with the CSeries jets designed by Bombardier Inc (BBDb.TO), a division that was bought by Europe's Airbus SE (AIR.PA).
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