brazil magnate batista quits as chairman of mpx
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Brazil magnate Batista quits as chairman of MPX

Arab Today, arab today

Arab Today, arab today Brazil magnate Batista quits as chairman of MPX

Sao Paulo - AFP

Embattled energy magnate Eike Batista, once Brazil's richest man, has quit as chairman of the troubled power generation company MPX he founded in 2001, MPX said Thursday. The Rio-based company said in a statement that its board of directors Wednesday also approved an increase in private capital of $352 million to $2.82 per share. It said Jorgen Kildahl, member of the Board of Directors of German utility giant E.ON and a vice president of MPX, would take over as interim chairman. It added that E.ON, which has a 36 percent stake in MPX, would invest $176 million while Brazilian multinational investment banking firm BTG Pactual would put in the rest. The statement said the capital increase replaces an earlier plan to raise $529 million at $4.4 a piece in a public offering. Slumping shares of MPX, the energy arm of Batista's troubled EBX group, shot up more than 10 percent Thursday to $3.14 on the Sao Paulo bourse following news of the capital injection. "E.ON acknowledges Eike Batista's big contribution in MPX, turning it into one of the most attractive energy companies in Brazil, since it was founded in 2001," the MPX statement quoted Kildahl as saying. "Fro now on, E.ON will support MPX's continued development and the implementation of its solid portfolio of projects, which will play a key role in Brazil's energy security," he added. The announcement came amid continuing difficulties for Batista's business empire, with shares of companies making up his EBX group nosediving Tuesday. They recovered strongly Thursday following the capital injection announcement. Batista's net worth, estimated at $30 billion last year by Forbes magazine, has since shrunk by two thirds. Earlier this year OGX was reported to be in rescue talks with Russian and Malaysian energy giants as well as state-owned Petrobras. The EBX empire of commodities and energy businesses include OGX, MPX (energy), LLX (logistics), MMX (mining), OSX (offshore oil and gas services) and other firms.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

brazil magnate batista quits as chairman of mpx brazil magnate batista quits as chairman of mpx

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

brazil magnate batista quits as chairman of mpx brazil magnate batista quits as chairman of mpx

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday