A PYMNTS Company

Brazil: Abradin files complaint against Embraer-Boeing deal

By  |  December 4, 2019

A Brazilian group representing minority investors filed a complaint on Tuesday, December 3, with Brazil’s antitrust watchdog CADE against the Embraer-Boeing deal. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The head of the Abradin group, Aurelio Valporto, said it asked for an investigation of the deal. Abradin also filed a complaint with the European Commission two months ago arguing that the acquisition of Embraer’s commercial division by Boeing creates hurdles to competition in the Brazilian aerospace industry, reported Reuters. 

    Former leftist presidential candidate Ciro Gomes also filed a complaint with the Brazilian antitrust watchdog and is seeking an injunction from Brazil’s Supreme Court to block the deal.

    Embraer said in a statement that it is working with global regulators on the Boeing deal, which has been approved in the United States, China, and Japan. The company stated it will continue to cooperate with other regulators.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.