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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment

Brazil’s Batista seeks stamp of approval with EBX sale

Posted on 24 May 2012

Eike Batista, Brazil’s richest man, is selling stakes in his holding company to international investors to help bolster confidence after shares of his largest unit slumped to the lowest in seven months.
Sovereign wealth fund Mubadala bought the EBX stake for $2 billion last month. Batista agreed in January to sell 10 percent of his power company MPX Energia SA (MPXE3) to Dusseldorf-based EON for 850 million reais ($414.5 million) and in April he sold 20 percent of technology unit SIX Automacao to Armonk, New York- based IBM………………………………………..Full Article: Source


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