Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News  >  Business Leaders  >  All news

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 
HomeAll newsMost read newsBusiness Leaders Biography 
Birthday : 11/03/1956
Place of birth : Governador Valadares - Brazil
Biography : Mr. Eike Fuhrken Batista da Silva is Chairman at CCX Carvão da Colômbia SA, Chairman at IMX Holding

Brazil's Batista Courts New EBX Investor, Plans Coal Stake Sale

05/25/2012 | 03:00pm US/Eastern

--Brazilian billionaire Eike Batista courts new investor for EBX group

--Batista plans to sell 30% stake in Colombia coal venture CCX

--Morgan Stanley has been hired to negotiate CCX equity stake sale

(Updates to include Batista's comments in the fourth paragraph and CCX's CEO comments in the eighth paragraph.)

By Rogerio Jelmayer


Brazilian billionaire businessman Eike Batista said Friday he is courting another potential investor for his sprawling business conglomerate, EBX Group, and is also looking to sell an equity stake in his new coal venture.

More partners are looking to invest in EBX, and one investor group in particular, which might be from Asia, is expected to invest around $500 million, Batista told reporters during an event to mark the listing of the new coal venture, CCX.

On Thursday, General Electric Co. (>> General Electric Company) said it would invest $300 million for a 0.8% stake in EBX Group, becoming only the second investor to participate directly in Batista's main holding company. In March, Abu Dhabi's Mubadala Development Co. invested $2 billion for a 5.63% stake in EBX.

"After Mubadala showed faith in our project, and also after all the due diligence which GE has done, that helps reinforce the confidence of investors in us and also to attract more [investors]," Batista said.

Friday saw the first day of trading of shares in CCX Carvao da Colombia SA (CCXC3.BR), a company that has coal interests in Colombia and was spun off from the group's electric power firm, MPX Energia SA (MPXE3.BR).

Batista said he plans to sell a 30% stake in CCX to a strategic investor, and he has hired Morgan Stanley to manage the deal. He said he is in no hurry to sell and the deal could take six to 12 months to complete.

Batista said CCX is worth $4 billion, and the plan is to list the firm's shares on the stock exchange in Colombia as well.

According to Leonardo Moretzsohn, CCX's chief executive, the sale would help fund planned investments. "A partner will help us to raise money for our ambitious project to invest $4 billion through 2017," said Moretzsohn.

Meanwhile, Batista distanced himself from previous plans to set up an auto maker in Brazil. He said Brazil now has 15 auto makers, and there probably isn't enough room for a new player.

Shares in MPX were up 8.1% at 35.24 Brazilian reais ($17.67), reflecting the coal-asset spinoff. Shares in CCX were up 4.12% at BRL8.85.

-By Rogerio Jelmayer, Dow Jones Newswires; +55 11 3544 7071; rogerio.jelmayer@dowjones.com

Stocks mentioned in the article : General Electric Company
React to this article
Latest news about Eike Batista 
11/17DJEIKE BATISTA : Brazil´ s Batista Says He Wants to Do Business Again
02/24DJEIKE BATISTA : Judge in Eike Batista Case Under Investigation
02/06DJEIKE BATISTA : Brazil Authorities Seize Cars, Documents From Eike Batista
01/28DJEIKE BATISTA : Brazil's Eike Batista Resigns Oil Company Chairman Post
2014DJEIKE BATISTA : Brazil Judge Postpones Eike Batista Trial Session to Early Next Year
2014DJEIKE BATISTA : Batista Insider-Trading Trial Starts in Rio
2014 EIKE BATISTA : Brazil's fallen tycoon Batista goes on trial for insider trading
2014DJEIKE BATISTA : Eike Batista's Trial to Begin Tuesday
2014 EIKE BATISTA : As money runs out, fallen Brazilian tycoon Batista faces the law
2014 EIKE BATISTA : Brazil prosecutor seeks to freeze $641 mln in Batista's assets
2014 EIKE BATISTA : regulator
2014DJEIKE BATISTA : Minority Bondholders in Batista's OGP Sue Deutsche Bank -- Update
2014DJEIKE BATISTA : Eike Batista's MMX Mineracao e Metalicos Joins Ibovespa Index
2014 EIKE BATISTA : Brazilian tycoon Batista investigated for financial crimes
2014DJEIKE BATISTA : Batista's Struggling Oleo e Gas Receives Investor Backing
1  2  3  4  5  6  7  8  9  10Next

Most Read News 
11/24DJR. JOHNSON : BlackBerry Executive Eric Johnson Leaves Company
11/25 PHILIP GREEN : Philip Green's Arcadia sees pre-Christmas sales fall
11/23 CARL ICAHN : Icahn takes stake in Xerox, calls shares 'undervalued'
11/23 JACK MA : Alibaba's Jack Ma seeking stake in SCMP publisher - Bloomberg
11/23DJMARISSA MAYER : Yahoo CEO Marissa Mayer Faces Morale Challenge
11/23 DONALD TRUMP : Republican Trump calls Pfizer deal to move tax base overseas 'disgusting'
11/24DJJACK MA : Alibaba in Talks to Buy Controlling Stake in SCMP Group
More news

Popular Business Leaders 
William Ackman Jean-michel Aulas Ernesto Bertarelli Luc Besson Vincent Bolloré Martin Bouygues Warren Buffett Paul Desmarais David Einhorn Albert Frère Bill Gates Philip Green Carl Icahn Steve Jobs Li Ka-shing Arnaud Lagardère Robert Louis-dreyfus Maurice Lévy Lakshmi Mittal Rupert Murdoch Xavier Niel Nelson Peltz Ferdinand Piëch Ted Rogers Johann Rupert Carlos Slim George Soros Ratan Tata Donald Trump Alain Weill
A-Z Business Leaders