August 30, 2018 / 6:34 PM / 2 years ago

Brazil government to approve Embraer-Boeing deal after elections: minister

The logo of Brazilian aviation company Embraer is seen during the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker

RIO DE JANEIRO (Reuters) - The Brazilian government will approve the tie-up between Boeing Co (BA.N) and Embraer SA (EMBR3.SA), which is still under President Michel Temer’s mandate, but only after the October presidential elections, Brazilian Defense Ministry Joaquim Silva e Luna said on Thursday.

The U.S. plane maker announced in early July it plans to take over the commercial jet unit of Embraer in a proposed $4.75 billion joint venture. Boeing would have an 80 percent stake in the venture.

Silva e Luna said the government plans to approve the deal only after the October elections to avoid stirring debate among the candidates, but he considers the tie-up a “good deal.”

Reporting by Rodrigo Viga Gaier; Editing by Jeffrey Benkoe

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