8 de agosto de 2014 / 2:48 / en 3 años

Brazil's Oleo sells shares in former OGX gas unit for $87 million

RIO DE JANEIRO, Aug 7 (Reuters) - Brazil’s Oleo e Gas Participacoes SA, the bankrupt oil company controlled by Eike Batista, said on Thursday that Brazilian buyout firm Cambuhy Investimentos bought shares worth 199.9 million reais ($87 million) that it held in Parnaíba Gás Natural, formerly known as OGX Maranhão.

The 245,728,660 shares were auctioned on Wednesday, the company said in a securities filing.

Parnaíba was separated from OGX in October in an operation that generated 344 million reais, which was crucial for the survival of Batista’s oil company. In that operation, Cambuhy agreed to subscribe to 200 million reais of new shares in OGX Maranhao as the gas company was then called.

OGX Petroleo e Gas Participacoes SA filed for bankruptcy protection on Oct. 30, 2013, but left OGX Maranhao out of the proceedings as the unit was in talks with potential investors.

Cambuhy and Germany’s E.ON SE agreed to pay 250 million reais for a combined 45.5 percent stake in the unit.

1 US dollar = 2.2968 Brazilian real Reporting by Luciana Bruno; Editing by Alan Raybould

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