A PYMNTS Company

Brazil: CADE clears tycoon’s iron ore port sale

By  |  October 16, 2013

Brazil’s competition authority CADE has reportedly cleared plans to sell an iron ore port to Netherlands-base energy firm Frafigury Beheer and to United Arab Emirates-based Mubadala Development Co as part of a tycoon’s efforts to reduce debts.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Reports said Wednesday that business mogul Eike Batista will sell a 65 percent stake in the MMX Porto Sudeste iron ore port to the companies. The agreement was made for about $996 million.

    The port is set to begin operations next year and, according to reports, the deal is a way to secure funding for the port.

    Full content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.