Brazil’s Eike Batista on a Global Mission to Top Wealth List

Post on September 28, 2012, 2:00 pm by the-victoria-law-group 2 Comments

Carlos Slim, look out.  Bill Gates, make way.  Sultan of Brunei, step aside.  In a continue effort to become the world’s richest man, Brazilian billionaire Eike Batista is selling the best performing of his six publicly traded companies in an effort to raise cash after his commodities and energy empire had a combined $458 million net loss in the second quarter.

Batista, whose net worth plunged $12.5 billion since March after delays at his oil startup triggered a stock selloff, is negotiating to sell shipbuilder OSX Brasil SA (OSXB3) to Sete Brasil Participacoes SA in exchange for a stake in the oil-rig contractor, according to two people with direct knowledge of the matter. The talks follow an agreement to sell a 49 percent stake in Batista’s AUX gold business to the Qatar Investment Authority for about $2 billion, a person with knowledge of the transaction told Bloomberg in June.

Read Juan Pablo Spinetto and Cristiane Lucchesi’s Bloomberg article here:

Presented by Miami International Business Attorney

Filed Under: Brazilian News

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