August 27, 2013 / 12:35 PM / in 4 years

Batista to inject capital into OSX with proceeds from share sale

SAO PAULO, Aug 27 (Reuters) - Embattled Brazilian tycoon Eike Batista plans to inject as much as $50 million into shipbuilder OSX Brasil SA with the proceeds from the sale of part of his holdings in the company, according to a securities filing on Tuesday.

The company’s board exercised a so-called put option by which Batista was forced to inject fresh capital into OSX, the filing said. Batista, whose fortune has decreased by over $25 billion over the past 1-1/2 years amidst a crisis of confidence in his Grupo EBX conglomerate of energy, logistics and mining companies, will sell the equivalent of $50 million of his shares in OSX to pay for the capital injection.

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