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Brazil sold the crown aerospace jewels, Embraer, to Big Air. A cast of 12 Brazilian executives would report to two from Big Air which would control 80% of the outfit. The offer was $4 billion plus the assumption of liabilities.
Inconveniently Big Air crashed two planes in six months into the teeth of a pandemic and claimed the Brazilians had not honored conditions precedent, which must have meant the gift wrapping on the gift, and with short arms withdrew the offer. While both sides lob arbitral grenades to keep the bar association afloat in martinis Embraer market cap is at one fourth the deal size with suitors actual or cosmetic lining up from Wuhan to Moscow.
Not sure what the folks at Brandes know but they own 14% adding 5 million shares in the quarter.
Brazil sold the crown aerospace jewels, Embraer, to Big Air. A cast of 12 Brazilian executives would report to two from Big Air which would control 80% of the outfit. The offer was $4 billion plus the assumption of liabilities.
Inconveniently Big Air crashed two planes in six months into the teeth of a pandemic and claimed the Brazilians had not honored conditions precedent, which must have meant the gift wrapping on the gift, and with short arms withdrew the offer. While both sides lob arbitral grenades to keep the bar association afloat in martinis Embraer market cap is at one fourth the deal size with suitors actual or cosmetic lining up from Wuhan to Moscow.
Not sure what the folks at Brandes know but they own 14% adding 5 million shares in the quarter.
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