Batista’s $7.6 Billion Stock Tumble ‘Not a Problem’
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Eike Batista is undaunted after his companies lost $7.6 billion of market value in four months and had the biggest flop in Brazil’s initial public offering market since 2008, the billionaire’s investment chief says.
“There’s no shortage of investors, there’s no shortage of bankers, who want to put their money with us,” Luiz Arthur, chief investment officer at EBX Group Ltd., the Rio de Janeiro-based parent for most of the entrepreneur’s assets, said in a telephone interview. “It’s not a problem.”