Eneva SA, the Brazilian utility controlled by Germany’s EON SE and Eike Batista, is in talks with banks and partners to avoid redemption of $300 million of debt owed by a natural gas company it owns with the former billionaire, said three people with knowledge of the talks.
Grupo BTG Pactual, the Brazilian investment bank founded by billionaire Andre Esteves, is working on a bid for JPMorgan Chase & Co.’s physical commodities business, said a person with direct knowledge of the matter.
Ibovespa futures declined, after the stock index rose yesterday to a seven-month high, as lower commodities prices sapped the outlook for Brazil’s raw-material exports amid concern growth in China will falter.
Empreendimentos Pague Menos SA, Brazil’s second-biggest drugstore company, would consider U.S. partners such as CVS Caremark Corp. and Walgreen Co. to expand amid heightened competition, its chief executive officer said.
Eike Batista is seeking 1.2 billion reais ($550 million) for his stake in Brazilian power producer Eneva SA as the former billionaire tries to raise cash to pay creditors, said two people with direct knowledge of the talks.