Embraer to Receive $150 Million from Boeing for Uncompleted Deal
By Denny Jacob
Embraer disclosed it would receive $150 million from Boeing for an arbitration settlement connected to an uncompleted deal between the two companies.
Brazilian aerospace company Embraer disclosed the payment and the conclusion of pending arbitration proceedings between it and plane maker Boeing in a securities filing.
Boeing in 2020 dropped plans to take control of the jetliner business of Embraer. The company at the time said the two sides failed to agree to final terms by initial termination date and opted to walk away from the two planned joint ventures announced in 2018, which had been delayed by some competition regulators.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 16, 2024 10:11 ET (14:11 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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