Eike Batista Tries to Repurchase Porto do Açu with Help from Chinese Company China Development Integration (CDIL)

Written by Flavia Marinho

Published on 02/02/2021 at 12:55

Updated on 15/02/2021 at 16:24

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Allied With The Chinese, Ex-Billionaire Eike Batista Tries To Repurchase Porto do Açu That Once Belonged Entirely To MMX, A Company Of The EBX Group

Ex-billionaire businessman Eike Batista is trying to repurchase Porto do Açu with the help of the company China Development Integration (CDIL), according to information published last Sunday (31/01) by the newspaper “O Globo”. According to journalists, the extraction of minerals in the Amazon initiated by Eike Batista resulted in the death of workers and misery

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According to the publication, in December, businessman Eike Batista went to Porto do Açu, located in the north of Rio de Janeiro, with a Chinese investor to introduce him to the site.

Porto do Açu once fully belonged to MMX (MMXM3), a company of the EBX group owned by Eike Batista. Currently, MMX is undergoing judicial recovery and remains in operation through a preliminary injunction, with the businessman still owning about 49.7% of the miner MMX.

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Currently, Porto do Açu is managed by Prumo Logística, which is responsible for 25% of Brazilian oil exports. In operation since 2014, the port, industrial, and energy generation enterprise consists of 13 companies – 7 independent and 6 subsidiaries of Prumo.

MMX, Eike’s Company, Is Under Judicial Recovery

The company MMX, which is under judicial recovery, reported in December that Eike Batista, the controlling shareholder of the company, is awaiting possible homologation of a plea bargain agreement reached with the Federal Public Ministry, but has not yet received any official communication confirming the homologation.

The clarification, sent to the Securities and Exchange Commission (CVM), comes after news reports that Minister Rosa Weber, of the Supreme Federal Court, had homologated the businessman’s plea bargain agreement on November 3.

MMX also stated that it was not mentioned in any of the news articles it had access to and that it is attentive to possible developments of the event, especially if they involve the company.

Eike Batista was sentenced in 2020 to eight years in prison under a semi-open regime for market manipulation by disseminating false information regarding the operations of his oil company OGX.

Eike Batista’s company was one of the most famous on the Brazilian Stock Exchange in the 2000s, but it turned out to be one of the biggest frauds in the history of the country’s capital markets.

Eike Batista Tries to Repurchase Porto do Açu with Help from Chinese Company China Development Integration (CDIL)

Allied With The Chinese, Ex-Billionaire Eike Batista Tries To Repurchase Porto do Açu That Once Belonged Entirely To MMX, A Company Of The EBX Group

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Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

MMX, Eike’s Company, Is Under Judicial Recovery

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Eike Batista Tries to Repurchase Porto do Açu with Help from Chinese Company China Development Integration (CDIL)

Allied With The Chinese, Ex-Billionaire Eike Batista Tries To Repurchase Porto do Açu That Once Belonged Entirely To MMX, A Company Of The EBX Group

Also Read

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

MMX, Eike’s Company, Is Under Judicial Recovery

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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

Government unlocks R$ 554 million for a highway that has been requested for decades and accelerates the duplication of BR.

Tire road? Thousands of shredded tires were secretly placed under a ramp in California, preventing a one-year delay in a project on weak soil and supporting a 26-foot-high structure in a corridor connected to I-880.

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The government puts R$ 8.6 billion on the table to change the highway (BR) with 50 overpasses, 28 bridges, 4 tunnels, and 40 km of bike lanes in 180 km of historic duplication.

With 241 meters, 48 thousand tons, and a structure designed to accompany aircraft carriers at sea, the Chinese ship that refuels fleets in motion was born to push Beijing away from the coast and has become the hidden gear of its naval projection.