Embraer says cash position from Boeing deal still to be determined

Embraer says cash position from Boeing deal still to be determined

Brazilian planemaker Embraer said in a securities filing on Monday that its cash boost from a potential sale of 80 percent of its commercial aviation business to Boeing is still to be determined.

FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company's headquarters
FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company's headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio/File Photo

SAO PAULO: Brazilian planemaker Embraer said in a securities filing on Monday that its cash boost from a potential sale of 80 percent of its commercial aviation business to Boeing is still to be determined.

Embraer had previously said it expected the cash boost to be about US$1 billion.

Boeing has agreed to pay US$4.2 billion to the Brazilian planemaker, in a tie-up that has been approved by Brazil's government but still needs approval from Embraer shareholders.

(Reporting by Marcelo Rochabrun; Editing by Mark Potter)

Source: Reuters

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