Rio de Janeiro, March 27 (IANS/EFE) Brazil's richest person, Eike Batista, announced Monday that he sold a 5.63 percent stake in his sprawling EBX conglomerate to Abu Dhabi state investment fund Mubadala for $2 billion.
Mubadala is to receive a non-voting preferred equity interest in the Centennial Asset Brazilian Equity Fund LLC and other offshore holding companies controlled by Batista, Grupo EBX said in a statement.
"The proceeds of Mubadala's investment will be used to reinforce the group's already strong capital structure so as to help fund new enterprises across multiple business areas including recently announced partnerships by EBX," the Brazilian conglomerate said.
EBX includes oil company OGX, miner MMX, shipbuilder OSX, logistics firm LLX and energy concern MPX, all of which are publicly traded.
Besides in interest in EBX, the deal announced Monday will give Mubadala a stake in Batista's private companies, including gold miner AUX, property developer REX and sports and entertainment firm IMX.
"Partnering with world-class companies is a key element of our investment and development strategy," Mubadala CEO Khaldoon Khalifa Al Mubarak said.
The tie-up with Batista, he said, "marks our first significant direct investment into one of the fastest growing markets and is an important step in Mubadala's development of strategic opportunities in Brazil and Latin America".
With an estimated fortune of $30 billion, Eike Batista is the world's seventh-richest person, according to Forbes magazine.
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