Boeing Pays Embraer $150M To Settle Buyout Dispute
Boeing has agreed to pay Embraer $150 million to settle a
long-running dispute over the circumstances in which the U.S. aerospace group
backed out of a $4.2 billion deal to buy an 80% stake in the Brazilian
airframer’s commercial airliner business. In a Securities and
Exchange Commission filing late on Monday, Embraer confirmed the
resolution of an arbitration
process it initiated on April 27, 2020.
Embraer and Boeing announced the planned master transaction
agreement in July 2018. In October 2019, the European Commission launched an anti-trust
investigation into the takeover, prompting a delay that spilled over
into the start of the Covid pandemic in 2020.
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