SAO PAULO--Brazilian billionaire Eike Batista plans to sign off
on the sale of a third stake in his holding company EBX Group to an
international investor at the beginning of July, said a person
familiar with the negotiations.
The person, who declined to be named, did not offer further
details of the pending transaction.
EBX representatives declined to comment for this article.
At the end of March, Batista sold a 5.63% stake in EBX to Abu
Dhabi's sovereign wealth fund for $2 billion. In May, Batista sold
a 0.8% stake in EBX for $300 million to General Electric Co. (GE).
At the time, GE said EBX wanted to use the proceeds to reinforce
the company's finances and help fund future investment
opportunities.
Batista, the richest man in Brazil, is raising money to
diversify into industries ranging from precious metals to
entertainment and sports management. The group currently holds
interests in industries such as mining and oil as well as
infrastructure and logistics, all of which are in different stages
of development.
Batista has also been collecting a number of high profile
associations, having also signed last April a partnership with U.S.
technology giant International Business Machines Corp. (IBM),
through EBX's subsidiary SIX Automacao.
Write to Luciana Magalhaes at luciana.magalhaes@dowjones.com