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4 years ago
Brazil's OGX says Batista sold 177.2 mln shares of oil company
September 4, 2013 / 3:06 PM / 4 years ago

Brazil's OGX says Batista sold 177.2 mln shares of oil company

1 Min Read

RIO DE JANEIRO, Sept 4 (Reuters) - Brazilian OGX Petróleo e Gás Participações SA said on Wednesday that controlling shareholder Eike Batista sold 177.2 million shares of the oil company in recent days, a stake representing 5.49 percent of OGX.

Batista has sold 11.14 percent of OGX's stock since March, the Rio de Janeiro-based company said in a statement. Batista, who is selling shares to help pay debt, said on Aug. 29 that he intends to hold on to at least 50.01 percent of OGX stock, the minimum for a controlling stake, after his share-sale plan is complete.

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