AVIATION
Embraer buys a company worth almost nothing to chase a deal worth billions in India
Embraer's C-390. Photo: Embraer
Embraer has agreed to buy 51% of Novavayu Aerospace Limited, an Indian company that Mahindra Defence Systems incorporated on July 29, 2026. The deal, signed on Oct. 9 and expected to close by Dec. 1, will cost the Brazilian planemaker 510,000 Indian rupees, or roughly BRL 27,000 (USD 5,320).
Novavayu has no operations and no revenue. Once the transaction closes, it will stop being a wholly owned Mahindra subsidiary and become an associate of Mahindra Defence Systems, with Embraer in control. What Embraer is buying is…
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