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[$$] Brazil’s Bolsonaro approves Embraer-Boeing tie-up

Andres Schipani in Brasília

The new government of nationalist President Jair Bolsonaro holds a golden share and could have quashed any takeover bid, but in an official note it said that “the power of veto won’t be exercised”. Both companies said in a statement that they “have welcomed approval by Government of Brazil of the strategic partnership that will position both companies to accelerate growth in global aerospace markets”. The deal now requires ratification by Embraer’s board as well as shareholder and regulatory approval, and is expected to be closed this year, the companies added.