Batista Sells OGX Shares

Batista Sells OGX Shares

Brazil Equity

Brazilian billionaire Eike Batista has sold BRL122m ($57m) worth of shares in OGX Petroleo & Gas Participacoes, according to regulatory documents. The controller sold 70.5m shares between May 24 and May 29, at prices ranging from BRL1.75 to BRL1.85 per share. Shares closed at BRL1.17 Tuesday. OGX’s 2018 bonds dropped 8 points to 48-50 Tuesday, according to a trader. The company has been challenged, with Fitch last month lowering its rating to B minus from B. The agency was concerned about OGX's

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