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FinancialNews


  • 23-06-12

    Qatar targets stake in Batista's AUX gold business: Report

    (MENAFN) Eike Batista, Brazil's richest man, was quoted as saying that it plans to sell a stake in his AUX gold business to Qatar Investment Fund (QIF), Bloomberg reported. EBX Group Co, Batista's Rio de Janeiro-based holding company, decided to sell a stake in AUX after cancelling plans to float the company in an IPO, Bloomberg said. Earlier this month, it was reported that Abu Dhabi's Mubadala Development Company is looking to increase its investments in Brazil, three months after a USD2 billion deal with Batista was signed. The deal would be the latest overseas investment by Qatar after a buyout spree in Europe that ended by overtaking a luxury retail complex on Paris's Champs-Elys�es boulevard earlier this month. QIA previously bought a number of valuable assets in Europe including London department store Harrods for USD2.22bn in 2010and stakes in Royal Dutch Shell, LVMH Moet Hennessy Louis Vuitton, Tiffany & Co and Paris St Germain football team. Bloomberg said Batista's net worth has climbed 8.7 percent this year to USD24.5bn, making him the 13th richest person in the world.

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