Deals
Trafigura Seals Purchase of Batista’s Iron-Ore Port
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Trafigura Beheer BV and Mubadala Development Co. completed the purchase of a stake in Eike Batista’s Sudeste port in Brazil for $400 million, gaining a foothold in the second-largest iron-ore exporting country.
Trafigura and Abu Dhabi’s Mubadala sovereign wealth fund also assumed about 1.3 billion reais ($558 million) in debt to gain 65 percent of the project, Batista’s MMX Mineracao & Metalicos mining unit said in a statement today. The deal concludes more than five months of exclusive negotiations since a preliminary agreement to buy the terminal in Rio de Janeiro state’s Itaguai harbour was announced on Sept. 10.