Shares of Eike Batista’s mining unit MMX Mineracao & Metalicos SA slumped while securities linked to royalties of its Sudeste port jumped after the company agreed to sell control of the terminal to Trafigura Beheer BV and Mubadala Development Co. in a $400 million deal.
Eike Batista’s LLX Logistica SA ports unit had its biggest six-day rally in almost five years as EIG Global Energy Partners LLC’s $560 million offer to take over control boosts expectation it will complete its main project.
MMX Mineracao & Metalicos SA, the iron-ore producer of Brazilian billionaire Eike Batista, named Carlos Gonzalez as chief executive officer, the company’s second change of its top executive in the last 15 months.
Not long ago, British businessman Ryan Cornelius was living the high life, doing deals out of Bahrain and taking his family big-game fishing on his yacht and on safari in Kenya. He’s now into his third year in a Dubai jail cell, yet to be convicted of anything.
MMX Mineracao & Metalicos SA, the iron-ore producer controlled by Brazilian billionaire Eike Batista, fell to a six-week low after changing its chief executive officer for the second time in 15 months.