Brazilian billionaire Eike Batista is seeking to sell 40 percent of the Tubarao Martelo oil block in Brazil’s Campos Basin for $1 billion as soon next month, a person with direct knowledge of the matter said.
B&A Mineracao SA, the venture between Andre Esteves’s Grupo BTG Pactual SA and former head of Vale SA Roger Agnelli, may buy a company in the next three months after purchasing copper and fertilizers assets.
Not even Andre Esteves, the Brazilian billionaire who orchestrated a sixfold increase in the value of a discarded UBS AG investment-banking unit, can save Eike Batista’s crumbling empire, according to bond traders.
Grupo BTG Pactual, the Brazilian bank led by billionaire Andre Esteves, is seeking private-equity investments in Portugal and Spain as Europe’s debt crisis forces governments there to sell assets, a person with direct knowledge of the matter said.
Brazilian billionaire Eike Batista is borrowing credibility from the nation’s most influential businessman to arrest a decline in his commodities and energy companies that wiped out $25 billion of his wealth.