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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered,

NYK Line Joins PNW West Coast Metro Pool

Effective October 20, 2014, NYK Line has become a member of the PNW West Coast Metro Pool (WCMP) operated by Trac Intermodal. The WCMP operates chassis at all major marine terminals,

Ports

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

NYK Line Joins PNW West Coast Metro Pool

Effective October 20, 2014, NYK Line has become a member of the PNW West Coast Metro Pool (WCMP) operated by Trac Intermodal. The WCMP operates chassis at all major marine terminals,

ISS Manages Heavy-lift Project at Port of Mombasa

Inchcape Shipping Services (ISS) announced it has completed another complex heavy-lift project in Africa, this time at the Port of Mombasa in Kenya. ISS was

News

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

Video: USCG Medevacs Navy Sailor off Virginia

The U.S. Coast Guard (USCG) medevaced a man Wednesday from a Navy vessel off the Virginia coast after watchstanders at Coast Guard Sector Hampton Roads in Portsmouth

VT Halter Begins Building LNG-powered ConRo Ships for Crowley

VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), has commenced construction on the first of two liquefied natural gas (LNG)-powered,

People in the News

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

Russian Minister to Intervene with Gazprom on Slovakia Gas Flow

Russia's Energy Minister Alexander Novak will intervene with Gazprom to raise reduced gas shipments to Slovakia to contracted levels, Slovakia's economy ministry

Total Names Refining Boss to Replace de Margerie

French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week.

Logistics

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

NYK Line Joins PNW West Coast Metro Pool

Effective October 20, 2014, NYK Line has become a member of the PNW West Coast Metro Pool (WCMP) operated by Trac Intermodal. The WCMP operates chassis at all major marine terminals,

Long Beach Cargo Continues to Climb

Cargo container traffic rose 7.3 percent in September at the Port of Long Beach compared to the same month last year, making for the Southern California seaport’s busiest September since 2007,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Ship Electronics Ship Repair Ship Simulators Sonar Winch
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: 0.1305 sec (8 req/sec)