Middle East

Mubadala to take stake in Rio port

Dubai: Mubadala Development Co., the Abu Dhabi government-owned investor, will get stakes in Eike Batista’s mining company and a port in Rio de Janeiro as part of a deal to restructure a $2 billion investment with the former Brazilian billionaire.

“With the impending closing of the transfer of MMX Mineracao & Metalicos SA (MMXM3) shares, the completion of the Porto Sudeste transaction, and the other interests we received from the earlier restructuring, we have redeemed a substantial part of our original investment,” Mubadala said in a statement. “We also believe that a number of EBX assets continue to have significant potential value for Mubadala and other investors.”  [06/08/14]

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