Boeing has decided to end its transaction to acquire Embraer's commercial aircraft activities. The Brazilian manufacturer announces that it will use all possible means to obtain damages.
Boeing no longer wanted to conclude
Embraer has just been informed by Boeing that the latter has terminated the transaction agreement or MTA which has linked the two manufacturers for several months now. For the Brazilian manufacturer, Boeing's decision is based on falsely constructed arguments to avoid its commitments to finalize the transaction to buy back Embraer's commercial aircraft activities and pay the expected sum of $ 4.2 billion. Embraer therefore considers that "Boeing has embarked on a systematic process of postponement of decisions and violations of the transaction agreement because of its intention not to carry out the takeover transaction in the light of the manufacturer's financial situation 737 MAX problems. "
Embraer will ask for compensation
Embraer considers that it has fulfilled all its obligations under the transaction agreement and meets all the conditions required on the scheduled date of April 24, 2020. The Brazilian manufacturer therefore announces that it will use all possible and available means to obtain damages from Boeing which not only terminated the MTA but also failed to comply with the terms of the transaction agreement.