There’s nothing like a friendly sheikh in the Gulf to solve your money problems.
Brazil’s richest man, Eike Batista, announced on Monday that Mubadala, an investment arm of the Abu Dhabi government, is to invest $2bn in his EBX group. In return Mubadala will get a 5.63 per cent stake in EBX’s investment vehicle.
A perfect match, perhaps? Batista may be worth an estimated $30bn but that doesn’t mean he doesn’t need the money. The tycoon has recently taken on Brazil’s state-run oil company, Petrobras, in a bid to become Brazil’s biggest private producer of crude. He has also expanded his mining empire to even more diverse areas – hospitality, real estate, technology, and beauty companies.
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