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The Government Of India Expressed Its Interest In Acquiring A Piece Of The Brazilian Embraer, Which Canceled Months Ago An Agreement With Boeing
After Boeing Walked Away From Buying Embraer During The Pandemic, the company returned to operate independently. However, even back then, the Brazilian government had already announced that two countries were interested: China and India. 2,500 Jobs Were Cut By Embraer In Brazil And Workers Feel The Impact Of The Crisis Caused By The Coronavirus
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Alongside China, the manufacturer Comac faces serious difficulties in project approvals with aerospace regulatory bodies, such as the American FAA. Meanwhile, India has been experiencing a period of commercial expansion in various industries, which has increased interest in Brazilian Embraer.
The information was first reported by the newspaper Business Standard. According to the publication, the Indian government sees the acquisition of Embraer’s commercial division as a major interest. A government source revealed that “We are very interested. We are exploring alternatives.”
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The prospector who heard about the advance of soy in Maranhão and opened a grocery store in Balsas in 1986 transformed that small store into Grupo Mateus, the third largest supermarket in Brazil, with revenues of R$ 43.5 billion and 490 units.
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Fiserv, the world’s largest payment processor, has just inaugurated its first factory outside Asia in Brazil. The unit in Betim (MG) will produce 100,000 Clover payment terminals per year and is part of a US$100 million investment that includes technology and expansion until 2027.
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Fiserv, the world’s largest payment processor, has just opened its first factory outside Asia in Brazil. The unit in Betim (MG) will produce 100,000 Clover payment terminals per year and is part of a US$100 million investment that includes technology and expansion until 2027.
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Pix could become a headache between Brazil and the US, and the Lula government will go to the White House to explain the system before pressure mounts.
To carry out the acquisition, financing from the government fund would be necessary. This was the first time the Indian government admitted its real interest in the Brazilian company.
The information comes months after rumors raised by Reuters that Russia, India, and China, also BRIC members, could be interested in Embraer’s division, weeks after the cancellation of the agreement with Boeing.
The latter had an agreement to acquire the Brazilian manufacturer’s commercial jet division but backed out at the last minute for reasons not clearly disclosed – Embraer and Boeing accused each other of breach of contract and took the contractual dispute to court.
The purchase by India could be something that would please the Brazilian government, as it is an emerging market with rapidly growing aviation. It is worth noting that, despite being a minority shareholder through BNDES, the Brazilian government holds a golden share, which has the power to veto any decision made by the investors’ council, even though the company is private.
“The Brazilian government would naturally support any contribution to Embraer and the strengthening of bilateral relations,” said an unidentified person from the Brazilian embassy to the Indian newspaper.
Embraer Statement
Embraer, for its part, issued a statement saying that it has no plans to sell any of its units at this time. Here is the statement:
“There are no plans to sell the commercial aviation unit or any other business area. The company is open to discussing only growth partnerships aimed at specific projects or entry into markets.”
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