Reuters: Bankruptcy News: EBX restructuring to leave $1.7 bln debt, $2 bln in assets -source

Changes are afoot at Blogtrottr! By popular request, we're bringing in paid plans with some cool new features (and more on the way). You can read all about it in our blog post.

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

EBX restructuring to leave $1.7 bln debt, $2 bln in assets -source Jul 4th 2013, 22:28 RIO DE JANEIRO, July 4 | Thu Jul 4, 2013 6:28pm EDT RIO DE JANEIRO, July 4 (Reuters) - The restructuring of Brazil's EBX industrial conglomerate will likely leave its controlling shareholder Eike Batista with about $1.7 billion of debt and up to $2 billion of assets, a source with direct knowledge of the situation told Reuters on Thursday. The sale of assets in EBX companies such as utility MPX Energia SA and iron ore miner MMX Mineração e Metálicos SA will allow Batista to retire his debts with Brazilian banks. The restructuring will also cut his debt with Abu Dhabi sovereign wealth fund Mubadala by more than 25 percent to between $1.6 billion and $1.7 billion, the source, who declined to be identified because he is not authorized to speak to the media, said. EBX Group was not immediately available for comment. (Reporting by Jeb Blount in Rio de Janeiro and Cesar Bianconi and Todd Benson in Sao Paulo; Editing by Dale Hudson)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions