Sao Paulo (AFP) – An appeals court in Brazil on Monday overturned a suspension ordered for a proposed $4.75 billion tie-up between US aerospace giant Boeing and the civilian business of Brazilian plane-maker Embraer.
The ruling superseded a decision given by a lower federal court in Sao Paulo last week that prevented the outgoing government taking any “concrete acts” on the tie-up so that the process could be handled by the administration of incoming president Jair Bolsonaro, who takes office on January 1.