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Citing sources familiar with the talks, Valor Econômico said the
companies were looking at forming joint business agreements in
which they divide costs and income in certain areas, or JVs, in
which both companies enter independently into a partnership.
Among the areas Boeing was looking to focus on, the paper said,
was complementing its aircraft portfolio, expanding sales
platforms, and developing new products.
Such an arrangement would likely ease regulatory pressure
surrounding the deal, as Brazil's government has repeatedly said
it is opposed to Boeing gaining control over Embraer due to the
planemaker's key role in Brazil's defense sector. However, it
may point to limits to the ambitions of a potential tie-up.
Neither Boeing nor Embraer immediately responded to a request
for comment.
On Dec. 21, the two planemakers said they were discussing a
"potential combination," in a move that could consolidate a
global passenger jet duopoly.
The talks are widely seen as a way for Boeing to strengthen its
position in the regional jetliner market, in which Embraer is
strong, thanks largely to its 70- to 130-seat E-Jets.
Less than three months ago, Boeing's European arch-rival Airbus
SE <AIR.PA> agreed to buy a majority stake in Bombardier Inc's <BBDb.TO>
100- to 130-seat CSeries jet, putting pressure on the U.S.
planemaker to seek a similar partnership.
The Boeing-Embraer talks involve Embraer's defense business, as
well as its passenger business, sources have said.
In the Tuesday report, Valor said Boeing was confident it could
convince Brazil's government that it could safely operate in
Brazil's defense sector, partially by pointing to defense deals
the U.S. planemaker has made in countries such as Australia.
(Reporting by Gram Slattery; Editing by Mark Potter)
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