Brazilian businessman Batista transfers more stakes to UAE's Mubadala
DUBAI Jan 20 (Reuters) - Brazilian tycoon Eike Batista is transferring stakes in four more companies to Abu Dhabi's state-owned investment fund Mubadala Development as he continues to unwind his business empire.
Once Brazil's richest man, Batista has been hard hit by the crash in the country's decade-long commodities boom which led to the collapse of his EBX mining, energy, shipbuilding, port operation and transportation group.
The transfers are part of an agreement between Batista and the Gulf investment fund.
Documents posted on the websites of the four companies show Mubadala will take a 28.79 percent stake in shipbuilder OSX Brasil through its affiliate, and a 21.04 percent stake in mining company MMX Mineração e Metálicos.
It will also take a 26.45 percent stake in coal firm CCX Carvão da Colômbia and an 11.47 percent holding in the oil firm formerly known as OGX Brasil.
Mubadala bought a 5.63 percent stake in EBX in 2012, before EBX collapsed. Under the terms of the deal, Batista was required to give Mubadala part of his holdings and more collateral if the investment didn't return at least 5 percent a year.
The transaction between Mubadala and EBX was ultimately structured as a $2 billion loan.
In a statement, Mubadala said the restructuring of its 2012 investment was ongoing.
The latest asset transfers follow other agreements to shift stakes to Mubadala, including in 2014 a 10.44 percent stake in port operator Prumo Logistica. (Reporting By Tom Arnold; Additional reporting by Guillermo Parra-Bernal; Editing by Susan Fenton)
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