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Sovereign Wealth Funds Briefing - Categorized | Investment

Mubadala in talks to buy assets of former Brazilian billionaire

Posted on 16 August 2013

Abu Dhabi’s sovereign wealth fund Mubadala Development Company is in talks to buy some of the assets of former Brazilian billionaire Eike Batista for about $1 billion (Dh3.67 billion), Bloomberg has said in a report citing two people with direct knowledge of the matter.
The report said the negotiations are for stakes in oil producer OGX Petroleo & Gas Participacoes SA, MMX Mineracao & Metalicos SA and LLX Logistica SA’s Acu port in Rio de Janeiro state. Batista’s AUX gold business in Colombia is already being used as collateral for $1.5 billion he owes Mubadala after the fund converted a preferred equity investment in the former billionaire’s holding company, EBX Group Co, into debt, last month………………………………………..Full Article: Source


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