Reuters: Deals: Abu Dhabi's Mubadala invests $2 billion in Brazil's EBX Group

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Abu Dhabi's Mubadala invests $2 billion in Brazil's EBX Group Mar 26th 2012, 13:44 Mon Mar 26, 2012 9:44am EDT DUBAI, March 26 - Abu Dhabi state investment fund Mubadala MUDEV.UL will invest $2 billion in Brazilian billionaire Eike Batista's EBX Group, it said on Monday, one of its biggest forays into Latin America. Mubadala, which has stakes in General Electric (GE.N) and private equity firm Carlyle CYL.UL, said it would make the investment in exchange for a 5.63 percent preferred equity interest in the Centennial Asset Brazilian Equity Fund. "This... transaction marks our first significant direct investment into one of the fastest growing markets and is an important step in Mubadala's development of strategic opportunities in Brazil and Latin America," Khaldoon al-Mubarak, Mubadala's chief executive and managing director, said in a statement. The investment, which Mubadala said was aimed at reinforcing EBX's capital structure and funding new enterprises, will give the Abu Dhabi fund indirect interests in EBX's listed holdings - including port operator LLX (LLXL3.SA), iron-ore producer MMX (MMXM3.SA) and petroleum unit OGX (OGXP3.SA) - and its core privately-held assets. EBX, a conglomerate of mining, oil energy and logistics companies, will generate $15 billion in annual operation earnings by the end of 2015, Batista, Brazil's richest man, said last year. The deal will also give Mubadala, which has assets worth around $46 billion, "participation in both EBX and Mr. Batista's pipeline of future investment opportunities, such as technology companies, cement, fertilizers, entertainment and others," the company said. (Writing by Amran Abocar; Editing by Reed Stevenson) Link this Share this Digg this Email Reprints

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