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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Mubadala cuts exposure to Brazil’s Eike Batista to around $1.5 bln

Posted on 11 July 2013

Abu Dhabi’s Mubadala Development Company has lowered its exposure to Brazilian tycoon Eike Batista, who has been plunged into financial crisis amid production problems at his flagship oil company.
On Wednesday, Mr. Batista’s EBX group said it has repaid some of the $2 billion investment made by Mubadala, the Abu Dhabi state investment fund, announced in March 2012. It has also revised the terms of the remaining loans, providing some relief for the businessman, who is battling to fend off creditors amid a loss of credibility in the group………………………………………..Full Article: Source


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