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Deals

Brazilian vice-president: Embraer should now look to China

FILE PHOTO: Brazil's Vice-President Hamilton Mourao reacts during the swearing-in ceremony of Brazil's new Health Minister Nelson Teich, at Planalto Palace in Brasilia, amid coronavirus disease (COVID-19) outbreak, in Brasilia, Brazil, April 17, 2020. REUTERS/Ueslei Marcelino

BRASILIA (Reuters) - Following the collapse of the Boeing Co BA.N takeover deal, Brazilian jetmaker Embraer SA EMBR3.SA should look to partner with China for its mid-range passenger plane unit, Brazil's Vice President Hamilton Mourao said on Monday.

“It’s a blessing in disguise,” Mourao said online to clients of consultancy Arko Advice. He said the company would stay in Brazilian hands and can deliver a product that China needs as it expands its domestic airline sector. “It’s an inevitable marriage. We have the know-how, they have the demand.”

Reporting by Anthony Boadle; Editing by Sandra Maler

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