Batista Transfers Prumo Stake to Mubadala

Posted by Michelle Howard
Tuesday, August 05, 2014

Brazilian tycoon Eike Batista agreed on Tuesday to transfer a 10.44% stake he has in port and logistics company Prumo Logística SA to sovereign wealth fund Mubadala Development Co PJSC.

The transaction is expected to be completed during the third quarter, Prumo said in a securities filing after receiving a notification from Batista's office. Batista, who founded the company and originally named it LLX Logística SA, is divesting some of his holdings in an effort to renegotiate about $2 billion in debt with Mubadala.

The filing did not give further details on the transaction.

(Reporting by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe)

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

KVH Outlines Ship-to-Shore Connectivity

The next generation of connectivity between ship and shore will be dominated by the development of applications to help ship owners and managers reduce costs by enhancing operational efficiency,

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

Rotterdam Gate LNG Terminal Expansion Started

Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun.

Finance

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

ECDIS to be Installed on 100 plus Maersk Vessels

Maersk Line selected Transas Marine for  ECDIS implementation on  more than 100 vessels.   The contract features Transas state-of-the-art Navi-Sailor ECDIS 4000

Keppel FELS Delivers 11th Jackup to Mexico

Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered a KFELS B Class jackup rig to Mexican national oil company,

News

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

Rotterdam Gate LNG Terminal Expansion Started

Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun.

MARIN, Cruden, Tree C Technology Forge Small Ship Simulator

Severe vibrations and shocks of up to 9G over an average of 1000 hours per year. That’s what instructors of fast small ships such as the Fast Raiding, Interception

People in the News

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

Rotterdam Gate LNG Terminal Expansion Started

Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun.

BMT Expands to Meet Increased Workload

BMT Nigel Gee (BMT), a subsidiary of BMT Group, has announced the completion of new offices in Southampton in order to meet a large increase in design work.   Operating

Logistics

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

Rotterdam Gate LNG Terminal Expansion Started

Dutch gas network operator Gasunie and tank storage service provider Vopak said on Monday that the expansion of their Gate liquefied natural gas (LNG) terminal in Rotterdam has begun.

Syria Taps World Wheat Market as Stocks Run Down

Weeks after Syria said it had no need for wheat imports, the government plans to import 150,000 tonnes and has introduced ways to conserve grain stocks in signs

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1855 sec (5 req/sec)