July 5, 2018 / 11:19 AM / 4 months ago

Boeing, Embraer to form JV

July 5 (Reuters) - Boeing Co and Embraer SA have signed a preliminary agreement to form a joint venture, the aircraft makers said on Thursday.

The joint venture will consist of the commercial aircraft and services business of Brazilian aircraft manufacturer Embraer and Boeing’s commercial development, production, marketing and lifecycle services operations.

The deal values Embraer’s commercial aircraft operations at $4.75 billion, and Boeing’s 80 percent ownership stake in the joint venture will be valued at $3.8 billion, the companies said. (Reporting by Arunima Banerjee in Bengaluru; Editing by Shailesh Kuber)

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