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Boeing, Embraer forge $4.8B commercial aircraft pact

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Boeing and Embraer entered a memorandum of understanding to create a joint venture valued at $4.75 billion.

Through the agreement, Boeing would take an 80 percent stake valued at $3.8 billion in the new venture.

According to the Financial Times, the deal would bolster Embraer`s long-term survival in an increasingly consolidated industry.

Read more from the Financial Times.

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