Analyst Research

Report Title Price
Provider : Sadif Analytics Prime
Provider : Reuters Investment Profile
Provider : ValuEngine, Inc.
Provider : Wright Reports

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Cambuhy Investimentos, Eneva SA and E.ON SE Create Controlling Bloc of OGX Petroleo e Gas Participacoes's Unit Left Out of Bankruptcy-Reuters

Thursday, 31 Oct 2013 08:56am EDT 

Reuters reported that E.ON SE and Brazilian buyout firm Cambuhy Investimentos agreed to pay BRL 250 million (USD 115 million) for a combined 45.5% stake in OGX Maranhao Petroleo e Gas SA (OGX Maranhao), a unit of OGX Petroleo e Gas Participacoes SA. Under terms of the accord, which was signed late on October 30, 2013, Cambuhy will subscribe BRL 200 million of new shares on OGX Maranhao, while E.ON will subscribe another BRL 50 million in stock. Eneva SA (formerly MPX Energia SA), of which E.ON is the largest stakeholder, will hold 18.2%of OGX Maranhao. Under the accord, Eneva will have the right for the coming two years to buy part or all of Cambuhy's shares in OGX Maranhao. The three companies agreed to create a controlling bloc that will have a combined 63.6% of OGX Maranhao. OGX Petroleo e Gas Participacoes SA filed for bankruptcy protection on October 30, 2013 but left OGX Maranhao out of those proceedings as the unit was in talks with a group of potential investors. 

Related Company News

Company Quote

0.0 +0.00%
2:57pm EDT