Mubadala Development Company, the government’s sovereign fund of Abu Dhabi, United Arab Emirates said on Monday it has acquired a preferred equity stake (without voting rights) of 5.63% in the holding company EBX, controlled by Brazilian businessman Eike Batista .
It is the first time that the Mubadala invests in a Brazilian company. In a statement, the fund, which is responsible for investment and strategic development of the emirate, said the partnership will allow them to obtain an indirect participation in both publicly traded companies (OGX, OSX, MMX, LLX and MPX) as well as in private equity (AUX, REX and IMX) EBX Group.
According to EBX, the proceeds of the agreement will be used to strengthen the capital structure of Brazilian holding company, and leverage new business development.
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