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SAO PAULO (Reuters) - Talks aimed
at a tie-up between planemakers Boeing Co <BA.N> and Embraer SA
<EMBR3.SA> that also involve Brazil's government are at an
advanced stage, O Estado de S. Paulo newspaper reported on
Friday, citing unnamed sources.
The Boeing and Embraer partnership would create a new company in
which the U.S. planemaker would have an 80.01 percent stake and
the Brazilian firm 19.99 percent, the paper said, adding this
was a model supported by the Brazilian government.
Boeing, Embraer and Brazil's Defense Ministry did not have an
immediate comment on the report.
The two jet manufacturers said in December they were discussing
"a potential combination," but the Brazilian government, which
holds veto power over strategic moves at Embraer, needs to
approve the deal.
The paper said one of the points still under discussion was the
appointment of a government representative to the board of the
new company. Boeing is against this, O Estado said, but the
Brazilian government is strongly in support of the move.
The joint venture will only include Embraer's commercial jet
operation, and exclude its defense and executive jet businesses,
O Estado said. Boeing's initial expectation was to include all
three Embraer business units in the tie-up, the paper said.
(Reporting by Ana Mano; Editing by Bernadette Baum)
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