28.02.2014 - Mubadala, Trafigura complete acquisition of 65pct of Porto Sudeste in Brazil
Commodity trading company Trafigura Group and Abu Dhabi's sovereign wealth fund have completed their acquisition of a controlling stake in a major Brazilian port from troubled Brazilian tycoon Eike Batista. Trafigura and Abu Dhabi's Mubadala Development Co. will own a combined 65% of Porto Sudeste while MMX Mineracao e Metalicos SA, an iron-ore miner controlled by Mr. Batista, will retain the remaining 35%, the companies said in a statement. In exchange, Trafigura and Mubadala will take on 1.3 billion Brazilian reais ($553 million) in debts owed by one of MMX's mining subsidiaries, and will also invest $400 million in the port, according to the statement...............................................Full Article: Source
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