Embraer and Boeing have approved to the terms of a strategic partnership that defines the joint venture comprising the commercial aircraft and services operations of Embraer. Under the terms of the proposed partnership, Boeing will acquire an 80% ownership stake in the joint venture for $4.2 billion. The partnership is expected to be neutral to Boeing’s earnings per share in 2020 and accretive thereafter. Estimated annual pre-tax cost synergies of approximately $150 million are anticipated by the third year of operations. The transaction remains subject to approval by the Government of Brazil, after which Embraer and Boeing intend to execute

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