New York Ports
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Batista’s LLX, EIG sign $575 million Brazil port accord
Under the EIG-LLX deal, EIG will receive LLX stock, reducing Batista’s share in the company to a non-controlling stake. Batista will also give up his 30 percent personal stake in LLX subsidiary, LLX Açu, which owns one of two terminals at the port, turning LLX Açu into a wholly owned unit of LLX. The deal is expected to be complete within 20 days. (Reuters)
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