SAO PAULO- Brazilian planemaker Embraer SA said on Wednesday it has reached a deal to sell its Portugal-based subsidiaries Embraer Portugal Estruturas Metalicas and Embraer Portugal Estruturas em Compositos to Spain's Aernnova Aerospace.
According to a securities filing, the deal was valued at $172 million.
The subsidiaries supply the firm with components used in its aircraft production, Embraer said, noting it will still source such components from Aernnova after the deal.
Embraer expects to conclude the transaction in the first quarter of 2022.
(Reporting by Gabriel Araujo; editing by Jason Neely) ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5644 7745;))
