BRASILIA --- A Brazilian federal court has overturned a provisional injunction that blocked a proposed tie-up between plane-makers Embraer and Boeing, Embraer said on Monday in a securities filing.
Brazil’s Embraer announced in July its intention to sell 80 percent of its commercial aviation business to Chicago-based Boeing for $3.8 billion. Embraer has said the deal is crucial for its survival.
The injunction emerged from a class action brought by four congressmen from Brazil’s left-wing Workers Party and had been granted on Thursday.
Brazil’s solicitor general’s office confirmed the injunction that halted Embraer’s negotiations with Boeing had been thrown out. (end of excerpt)
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