Batista’s LLX Rallies Most in 7 Months on Hunt for DealsPeter Millard
LLX Logistica SA, billionaire Eike Batista’s port startup, rallied the most in almost seven months after announcing it hired consultants to aid its search for investors.
LLX, based in Rio de Janeiro, rose 28 percent to 1.28 reais at 11:58 a.m. in Sao Paulo, making it the biggest gainer on the Bovespa Small Cap index, which added 1.6 percent. It was the stock’s biggest intraday gain since Nov. 29.
“LLX has engaged financial advisers to evaluate possible business opportunities and corporate transactions involving the company’s assets and its securities,” the company said in a statement late yesterday, without naming the consultants.
Batista plans to use LLX’s Acu port in Rio de Janeiro state as a base of operations for his oil company OGX Petroleo e Gas Participacoes. OSX Brasil SA, his shipbuilder, is building a yard at the port to manufacture oil-production vessels. OSX rose as much as 6.6 percent today after it raised 183 million reais ($83.29 million) in a capital increase.