RIO DE JANEIRO: Brazilian tycoon Eike Batista is in talks to cede control of mining company MMX Mineração e Metálicos SA's iron ore port near Rio de Janeiro in exchange for $400 million of new investment and debt relief, according to a securities filing on Tuesday.
The talks, with Dutch trading, energy, mining and logistics company Trafigura Beheer BV and Abu Dhabi sovereign wealth fund Mubadala Development Co, are Batista's latest effort to halt the decline of his once high-flying EBX Group.
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