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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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

Also Read

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

MMX, Eike’s Company, Is Under Judicial Recovery

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

Engineers want to carve through Africa with a giant canal to bring water from the world’s second-largest river to a dying lake on the edge of the Sahara Desert that has already lost 90% of its water.

China has deployed snake-shaped robots to slide along power lines, where they have already inspected over 130 kilometers of cables using cameras and sensors to detect damaged wires, worn-out parts, and overheating.

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