UPDATE 1-Brazil's Batista seeks Mubadala debt refinancing, sources say

miércoles 18 de junio de 2014 10:45 GYT

* Batista makes push after Óleo e Gás restructured

* Mubadala may buy stakes in EBX companies, sources say

* OSX rises; shares of Eneva make first gain in 10 days (Adds share performance in paragraph 10; Batista and EBX declining comment)

By Guillermo Parra-Bernal and Jeb Blount

SAO PAULO/RIO DE JANEIRO, June 18 (Reuters) - The successful restructuring of bankrupt oil producer Óleo e Gás Participações SA will allow Brazilian tycoon Eike Batista to move forward with plans to cut his own debt, three sources with direct knowledge of the situation said.

Batista and his EBX holding company have been in talks to refinance about $2 billion owed to Abu Dhabi sovereign wealth fund Mubadala Development Co PJSC, the sources said. Batista may offer assets, including stakes in firms he either controls or has a stake in, to speed up the process, they said.

"Our discussions are continuing," Brian Lott, a spokesman for Mubadala, told Reuters without elaborating. "We continue to review assets and opportunities that complement our existing portfolio." Batista and EBX declined to comment.

If the loan is refinanced, it will be the second time the parties agreed to change the terms. Soon after Mubadala bought a 5.6 percent stake in EBX in March 2012, it converted that equity into debt. EBX was forced to renegotiate the debt last July as Batista's energy, mining and logistics empire collapsed.

Now that a judge has approved Óleo e Gás' restructuring and most other EBX companies have been sold, Batista wants better terms on the Mubadala deal, a first source said. Óleo e Gás used to be known as OGX Petróleo e Gás Participações SA, which filed Latin America's largest-ever bankruptcy petition last year.   Continuación...