Pursuits
Batista Considers Partner to Tap $1.5 Trillion Assets
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Brazilian billionaire Eike Batista said he’s considering partnering with an industrial group to help develop iron-ore, oil, coal and gold resources that he estimates could be worth about $1.5 trillion.
The sale of another stake in his EBX Group Co., following the $2 billion purchase of a 5.63 percent share by Abu Dhabi’s Mubadala Development Co., would help boost global investors’ confidence in his projects, the billionaire said yesterday in an interview on Bloomberg Television’s “Money Moves.” Rio de Janeiro-based EBX’s assets have the potential to yield 80 percent margins, he said, without elaborating.