Under the new agreement, Boeing will hold an 80% ownership stake and Embraer will hold the remaining 20%. The commercial aviation joint venture, to be called Boeing Brazil - commercial (BBC), will be led by Brazil-based management but Boeing will have operational and management control of the new company. Embraer will retain consent rights for certain strategic decisions, such as transfer of operations from Brazil. Another joint venture will promote and develop new markets for the multi-mission medium airlift KC-390. Under the term;, of this proposed partnership, Embraer will own a 51% stake in the joint venture, with Boeing owning the remaining 49%.
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