Post by account_disabled on Mar 13, 2024 3:44:25 GMT -5
The Administrative Council for Economic Defense rejected an appeal from the Federal Public Ministry and maintained the approval of the purchase of part of Embraer by the North American multinational Boeing.
With operation, Boeing acquired part of Embraer
Reproduction
The operation had been authorized by Cade's General Superintendence (SG-Cade) in January. The appeal was filed a few hours after the purchase was definitively completed.
However, for advisor Luiz Augusto B2B Lead Hoffman, rapporteur of the process, the law does not allow the MPF to appeal in cases of concentration acts already approved by SG-Cade.
“Despite the enormous relevance of the MPF in our legal system, it appears that there was an express deliberation by the Legislative Branch regarding the prohibition of the participation of the Federal Public Ministry in cases of concentration acts at Cade, which is in perfect agreement with the constitutional provisions mentioned and also with Complementary Law 75/93”, said the rapporteur.
The purchase of part of Embraer is valued at US$4.2 billion. The operation was announced in July 2018 and authorized by antitrust authorities in the United States and China. The negotiation still depends on the approval of the European Union.
According to SG-Cade, no competitive problems were identified in the business. The authority understood that the operation will bring benefits to Embraer, “which will become a strategic partner of Boeing”.