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Brazil’s government on Thursday approved joint ventures between Boeing [BA] and Embraer [ERJ], the country’s aerospace and defense company, a strategic partnership that will give the U.S. aerospace giant a play in smaller commercial aircraft and a multi-mission military aircraft. Terms of the strategic partnership were agreed to between the two companies in December. Under the commercial joint venture, Boeing will own an 80 percent stake and Embraer the remainder. Under a separate joint venture around Embraer’s KC-390 multi-mission medium…
