Brazil’s Embraer SA surged as much as 15 percent today after confirming that it’s in talks to merge Eve Urban Air Mobility, its electric vehicle takeoff and landing unit, with Zanite Acquisition, Bloomberg reports.
The talks with the SPAC are ongoing and could end without an agreement, Embraer said, confirming an earlier Bloomberg report. The deal is slated to value the combined entity at about $2 billion, according to people with knowledge of the matter, although terms could change. Read more.
