Embraer sells two subsidiaries in Évora to Spain’s Aernnova for €151M

  • Lusa
  • 12 January 2022

The two Embraer's facilities in Évora currently employ around 500 people. 

Brazil-based aircraft manufacturer Embraer has sold two subsidiaries in Portugal, located in Évora, in the Alentejo, to Spain’s Aernnova Aerospace, for around €151 million, the company announced this Wednesday.

The agreement, which was confirmed in a statement issued to Embraer shareholders, contemplates the sale of all shares in the subsidiaries Embraer Portugal Estruturas Metálicas (EEM) and Embraer Portugal Estruturas em Compósitos (EEC) to Aernnova, for the amount of $172 million (€151.2 million), subject to adjustments until completion.

The two facilities in Évora currently employ around 500 people.