Embraer Completes Acquisition of Additional Stake in Cabin Joint Venture
MT Newswires Live
Jul 02
Embraer (EMBJ) said Thursday it completed the acquisition of an additional stake in its cabin joint venture with Safran Cabin, along with certain Brazil-based assets related to the business.
The company said the deal includes the purchase of the remaining 50% stake in Mexico-based EZ Air Interior, giving it full ownership of the company, which manufactures cabin components for the E-Jets family.
Embraer said it also acquired part of Safran Cabin's operations in Jacarei, Brazil, while Safran retains its non-Embraer engineering services business in Brazil.
The transaction closed after receiving regulatory approvals and meeting customary closing conditions, it added.
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