May 25, 2012 / 3:14 PM / 6 years ago

Brazil's Batista may sell more of investment group EBX

SAO PAULO, May 25 (Reuters) - Brazilian billionaire Eike Batista, who controls investment holding company EBX, said on Friday he may raise another $500 million from the sale of a stake in his sprawling industrial group that spans shipbuilding to entertainment.

The announcement came a day after Batista, one of the world’s richest individuals, announced that General Electric Co would take a $300 million stake in EBX.

Earlier in May, EBX said it would sell a $2 billion stake to Abu Dhabi state investment fund Mubadala.

“After the sovereign fund (Mubadala) showed faith in us, you created a confirmation that the group has been delivering on all that it has said in the past years. So it is easy (to raise capital). There are many interested,” Batista said at the debut of CCX shares trading on the BM&FBovespa

At an event at the BM&FBovespa exchange in Sao Paulo on Friday, Batista said EBX hired investment bank Morgan Stanley to manage the sale of a 30 percent stake in EBX subsidiary CCX, a company with coal assets in Colombia, to a strategic buyer.

Shares of CCX traded as low 7.49 reais, down 11.8 percent on the BM&FBovespa exchange after Batista’s comments, but recovered to 8.70 reais.

Batista said he hoped to list shares of CCX on the Bogota exchange “as soon as possible.”

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