April 24, 2020 / 4:25 PM / a month ago

Boeing-Embraer deal hits roadblock as deadline nears -sources

PARIS/SAO PAULO, April 24 (Reuters) - A $4.2 billion deal for Boeing to buy the civil jetmaking arm of Brazil’s Embraer has hit a roadblock over implementation, leaving its fate uncertain unless a breakthrough can be found quickly, people familiar with the talks said.

The companies have been in discussions to assess whether various contractual conditions have been met for the tie-up, including the way a new venture 80%-owned by Boeing would be set up and funded, and have the rest of Friday to resolve the issue.

The deal also depends on delayed approval from the European Union which has said it needs until August to complete its anti-trust probe after the deal was cleared by other regulators, but this is not seen as the main stumbling block.

Neither company agreed to comment. (Reporting by Tim Hepher, Marcelo Rochabrun, Tatiana Bautzer, editing by Louise Heavens)

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