Batista Hires Morgan Stanley to Sell 30% Stake in CCX
CCX, based in Rio de Janeiro, will also be listed in Bogota as soon as possible, Batista said in an event in Sao Paulo.
Batista, 55, is raising money from international investors to expand his oil, iron-ore, coal, shipping and power-generation companies. This week General Electric Co. agreed to invest $300 million in his EBX Group Co. holding company after Mubadala Development Co. bought a $2 billion stake last month and EON AG and International Business Machines Corp. bought stakes of units earlier this year.
The coal producer will probably rise above the market’s average to reach 20 reais this year, Banco Itau BBA SA analysts Marcos Assumpcao and Andre Pinheiro said in an note to clients today.
Batista’s main holdings are oil producer OGX Petroleo e Gas Participacoes SA, MPX, iron-ore producer MMX Mineracao (MMXM3) & Metalicos SA, shipbuilder OSX Brasil SA (OSXB3) and transportation company LLX Logistica SA. (LLXL3)
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