Mubadala to Get 11% Stake of Batista’s Mining Unit - Bloomberg

Mubadala to Get 11% Stake of Batista’s Mining Unit - Bloomberg:



"Mubadala Development Co., the Abu Dhabi government-owned investor, will get a 10.52 percent stake in Eike Batista’s mining company as part of the restructure of a $2 billion investment with the former Brazilian billionaire.



Batista will transfer 17.1 million shares of MMX Mineracao & Metalicos SA (MMXM3), worth 24.4 million reais ($10.8 million), to Mubadala in the third quarter, the Rio de Janeiro-based company said late yesterday. The deal is subject to undisclosed conditions, MMX said, without elaborating.



The stake will make Mubadala the third-largest shareholder in the iron ore company, based on holdings data compiled by Bloomberg. Mubadala invested $2 billion with Batista’s EBX Group Co. in 2012, when it valued the former boat-racing champion’s empire of logistics and commodities companies at more than $35 billion."



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