Embraer Board Decides To Approve Resolution On Embraer And Boeing Deal

(RTTNews) - Embraer S.A. (ERJ) said that in light of the favorable pronouncement from the Brazilian Federal Government regarding the strategic partnership between Embraer and The Boeing Co., the Company's Board of Directors decided to ratify the resolution of December 17, 2018 that approved the Transaction; to authorize the execution of the Master Transaction Agreement, which provides the terms and conditions for the consummation of the strategic partnership in connection with the commercial aviation, the Contribution Agreement, which provides the terms and conditions for the creation of a joint venture for the promotion and development of new markets and applications for the multi-mission airplane KC-390, as well as of the other agreements and documents necessary or convenient for the consummation of the Transaction; and to authorize the executive officers to perform any act necessary for the consummation of the Transaction, including the transfer to the new company of the net equity comprised by assets, debts, properties, rights and obligations related to the commercial aviation business unit.

The Transaction will be consummated after the resolution and approval of the Transaction by Embraer's shareholders at an Extraordinary Shareholders' Meeting; approval by antitrust authorities from Brazil, the United States of America and other applicable jurisdictions; and satisfaction of other conditions customary in similar transactions.