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Wednesday, June 05, 2013

Brazil closer to Boeing on jets deal after Biden visit

F-18 Super HornetBrazil is closer to choosing Boeing Co.'s F-18 for one of the developing world's most sought-after defense contracts after U.S. Vice President Joe Biden addressed the government's main misgivings during a visit to Brasilia, officials told Reuters.

Biden met with President Dilma Rousseff on Friday and assured her that the U.S. Congress was likely to respect Boeing's agreement to transfer sensitive technology to Brazil as part of the deal, three officials who were present said on condition of anonymity.

The deal will involve 36 jets worth about $4 billion, with probable follow-up orders that would greatly increase the value of the contract over time.

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