Brazilian billionaire Eike Batista will delist his coal mining
company CCX by buying back and exchanging outstanding
shares for stock in other companies in his EBX Group at an
auction on June 4, according to a notice on Friday.
The operation will be worth 280.7 million reais ($141.4
million), the notice from EBX said. Batista plans to limit the
amount exchanged for shares in other companies to 2 percent of
capital, except for those traded for shares in oil producer OSX
Petróleo e Gas SA.
The maximum price paid for shares will be 4.31 reais each,
as previously announced. CCX, whose operations are focused on
Colombia, went public in May 2012. Its shares closed at 3.47
reais on Friday, down 2.54 percent.