May 24 General Electric Co will invest $300 million for an equity stake in a fund run by Brazilian industrial group EBX Group that invests in Brazil infrastructure projects, EBX and the largest U.S. conglomerate said on Thursday.
GE, which supplies equipment and services to EBX, will take a 0.8 percent preferred equity stake in Centennial Asset Brazilian Equity LLC and other offshore holding companies, the partners said.
EBX has said it will invest $50 billion over the next 10 years, mainly in infrastructure and natural resources sectors.
Centennial is the investment company of Brazilian billionaire Eike Batista, Brazil's richest man. His EBX group owns controlling stakes in oil, natural gas, electricity, mining, shipbuilding, ship leasing and port companies.