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Boeing: confirms tie-up talks with Brazil's Embraer.

(CercleFinance.com) - US aerospace giant Boeing confirmed on Friday that it was in talks with Brazilian aircraft manufacturer Embraer over a potential tie-up.

"Boeing and Embraer today confirmed the two companies are engaged in discussions regarding a potential combination, the basis of which remains under discussion," the Chicago-based company said in a statement.

Boeing said there is no guarantee a transaction will result from these discussions, adding that the two rivals did not intend to make any additional comments regarding these discussions.

Any transaction would be subject to the approval of the Brazilian government and regulators, the two companies' boards and Embraer's shareholders, Boeing stated.

As such, the Brazilian government confirmed that it would not allow Embraer to be controlled by Boeing, although did not rule out a potential "association" between the groups.

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