Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Goldman Becomes Second Biggest Holder in Batista’s OSX

Sept. 19 (Bloomberg) -- Goldman Sachs Group Inc. became the second-largest shareholder in Eike Batista’s OSX Brasil SA as the shipbuilding unit of the former Brazilian billionaire faces a possible restructuring of $500 million in bonds.

Goldman Sachs acquired OSX shares on Sept. 3 to reach a 5.22 percent stake, the Rio de Janeiro-based company said in a regulatory filing today. OSX is the worst-performing stock in Batista’s commodities group this year with a 92 percent slump.

Batista, Brazil’s richest person until November, is selling assets and restructuring his group of publicly traded commodities and logistics startups after a series of missed operational and financial targets eroded investor confidence. Creditors representing about 60 percent of OSX bondholders hired law firm Bingham McCutchen LLP in preparation for the possible restructuring of the company’s 2015 bonds, two people briefed on the arrangements told Bloomberg News on Sept. 9.

Goldman Sachs, the fifth-biggest U.S. bank by assets, declined to comment on the share purchase in an e-mail sent by an external public relations representative in Brazil.

“This is a minority investment that does not involve a change in the composition of corporate control or a change in the management structure of the company,” the firm said in a letter accompanying the OSX filing. “Currently, the shareholder does not target any quantity of the company’s shares.”

OSX fetches 0.06 times book value, making it the cheapest stock among 264 companies trading in Brazil with a market value of at least $100 million, according to data compiled by Bloomberg. The entrepreneur created OSX to supply vessels to sister company OGX Petroleo & Gas Participacoes SA, which is in talks with creditors in a bid to avoid bankruptcy protection.

OSX rose 1.3 percent to 80 centavos in Sao Paulo today, the highest since Sept. 9. This year’s slump is the steepest in the Ibovespa small cap index.

To contact the reporter on this story: Juan Pablo Spinetto in Rio de Janeiro at

To contact the editor responsible for this story: James Attwood at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.