Early on Monday, the 17th of December, the Brazil’s Embraer SA had announced that they had finalized the terms and conditions of a proposed deal of selling 80 percent of its aviation business to Boeing Co., however, the newly proposed deal indicated an increase in the valuation, which accounted for 11 percent more than the original deal announced in July.

The newly proposed valuation of the division would be $5.26 billion, however, the original announcement offered $4.75 billons deal and the Embraer is expecting to save $3 billion excluding the closing costs. None the less, it had remained unclear where the debt would be coming in to play, as the Embraer had around $4 billion in total debt, according to its latest financial statement released at the end of the September.

Embraer is set to present the deal to the Brazilian government on later part of the December of 17th, Monday, and the Brazilian government holds veto power over important business decisions. However, a source familiar to this matter commented that the company is optimistic over the prospects of the sale.

In fact, it remained cloudy how long the Brazilian government would take to make a decision, yet, president Jair Bolsonaro and his aides seemed to be in favor of a Boeing-Embraer deal, which might have been turned out to be an escape-route for the debt-drowned Embraer.