Brazilian Billionaire’s Shipbuilding Company to File for Bankruptcy
Oil industry equipment and service supplier OSX, part of the EBX Group conglomerate controlled by Brazilian magnate Eike Batista, says it has halted debt payments and is seeking bankruptcy protection.
OSX, the second Batista-controlled company to seek protection from creditors after oil firm OGX, made the announcement in a regulatory filing.
The decision was made by OSX’s board, which also voted to oust Marcelo Luiz Maia Gomes as CEO and replace him with Ivo Dworschak Filho, who previously headed up the company’s shipbuilding division.
The company will be able to continue operating while it negotiates a restructuring of its debts.
OGX filed for bankruptcy on Oct. 30 and its delicate situation has dragged down OSX, one of the oil company’s biggest suppliers.
OSX builds and operates equipment for the offshore oil and gas industry, including the construction of support vessels, oil rigs and well-drilling equipment.
Since 2011, it also has been building a shipyard at the Acu Superport, an industrial megaproject conceived by Batista on the coast of Rio de Janeiro state.
For the development of these projects, the company raised nearly $4.7 billion from bond issues abroad and other transactions.
EBX Group’s financial woes began last year with the revelation that an oil concession awarded to OGX contained fewer reserves than expected.
In addition to OGX and OSX, the EBX Group also includes logistics company LLX, coal mining firm CCX and entertainment company IMX.
Batista used to be one of the world’s wealthiest individuals, but his net worth has fallen sharply in recent years due to the plunging share prices of his publicly listed companies.
Published in Latino Daily News
Source: http://www.hispanicallyspeakingnews.com/latino-daily-news/details/brazilian-billionaires-shipbuilding-company-to-file-for-bankruptcy/27918#When:04:05:44Z
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,708,893,361 |
| Stories: | 8,451,476 |
Whistler Blowers, Insiders
