Embraer shareholders approve jet joint venture with Boeing

Embraer shareholders approve jet joint venture with Boeing GlobeBusiness

The deal gives Boeing a big stake in Embraer’s market for smaller regional jets and helps the Chicago company counter Europe’s Airbus, which last year bought a controlling stake in Canadian manufacturer Bombardier’s CSeries regional jet program.Boeing and Embraer said Tuesday the deal was favoured on 96.8 per cent of votes cast, with owners of about 67 per cent Embraer stock voting. The companies hope to win regulatory approvals and close the deal by year-end.

Embraer shareholders also agreed to a joint venture with Boeing to market Embraer’s KC-390 military-transport plane.

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