Japan's Marubeni in talks to buy Batista stock in Brazil's Eneva -report

Tue Sep 17, 2013 7:33am EDT
 
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SAO PAULO, Sept 17 (Reuters) - Brazilian tycoon Eike Batista is in talks with Japanese trading house Marubeni Corporation and two pension funds to sell his remaining stock in electricity generator Eneva SA, formerly known as MPX Energia SA, newspaper O Estado de S. Paulo said on Tuesday.

At Eneva's current market value, Batista's 24 percent stake would be worth almost 1 billion reais ($439 million).

The decision to sell his Eneva stock is part of a wider effort by Batista to restructure his holdings. The value of the six publicly traded companies in EBX has collapsed over the past year because of missed production and profit targets.

Estado, citing unnamed market sources, said Marubeni had made the most aggressive bid. The two other contenders are a Canadian pension fund and an Australian infrastructure fund, Estado said.

Batista stepped down as chairman of the former MPX in July after German conglomerate E.ON agreed to buy new shares in the company to finance expansion and pay debt. The E.ON deal diluted Batista's stake in MPX to 24 percent from 54 percent, ending his control.

Eneva's spokespeople were not immediately available to comment on the Estado report. Calls to Marubeni's office in Sao Paulo were not answered.