Eike Batista, Brazil’s richest man, plans to announce as soon as this month the sale of a 49 percent stake in his AUX gold business to Qatar for about $2 billion, a person with direct knowledge of the negotiations said.
The announcement will probably come at the end of this month or the beginning of November, according to the person, who asked not to be identified because the matter is private. Qatar Mining Co. may make the acquisition, though the government is also considering using its sovereign fund, the Qatar Investment Authority, the person said.
EBX Group Co., Batista’s Rio de Janeiro-based holding company, decided to sell a stake in AUX, which mines for gold in Colombia, after shelving plans to take the company public. Batista told reporters on June 21 that he had sold 49 percent of the business, without disclosing the buyer or the price. He said the acquirer wasn’t a gold company.
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