SAO PAULO (Reuters) – Brazil’s newly installed President Jair Bolsonaro on Thursday approved a tie-up between Brazil planemaker Embraer (EMBR3.SA) and Boeing (BA.N).

Embraer will sell 80 percent of its commercial aviation business to Boeing in the deal. The government holds a so-called “golden share” in Embraer, a private company, that allows it to veto important business decisions. The deal must still be approved by shareholders.