Embraer shares soar on announcement of Eve deal with SPAC, NYSE listing By Reuters

Embraer shares soar on announcement of Eve deal with SPAC, NYSE listing By Reuters
2/2 Embraer shares soar on announcement of Eve deal with SPAC, NYSE listing© Reuters. FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company’s headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio 2/2

By Tatiana Bautzer and Gabriel Araujo

SAO PAULO (Reuters) -Shares of Brazilian planemaker Embraer SA (NYSE:) soared on Tuesday after the company said it had agreed to combine its electric aircraft subsidiary Eve with Zanite SPAC and list it on the New York Stock Exchange.

The transaction values Eve’s equity at $2.9 billion and will include the combination with Zanite Acquisition Corp and an additional investment by a group of investors that includes Embraer, Zanite, financial investors and strategic partners such as Azorra Aviation, BAE Systems (OTC:), Republic Airways, Rolls-Royce (OTC:) and SkyWest (NASDAQ:) Inc.

After the transactions, Eve – which will be…

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