BRASILIA (Reuters) – Technical staff at Brazilian antitrust regulator Cade on Monday approved Boeing Co’s (N:) purchase of Embraer SA’s (SA:) commercial aviation division without restrictions, according to a statement on the agency’s website.
Cade’s top administrative council could still call for a reconsideration of the case, putting the matter to a vote.
Boeing has offered to pay $4.2 billion for 80% of Embraer’s commercial jet division, which builds passenger jets in the 70- to 150-seat segment.
That puts it in direct competition with next-generation jets designed by Bombardier Inc (TO:) and acquired by Europe’s Airbus SE (PA:), which rebranded them the A220 program.
The Boeing-Embraer deal is still under investigation pending regulatory approval in the European Union which has set an April 30 deadline to decide on the case.
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