Coal on the Block as EBX Faces Cash Shortage

Coal on the Block as EBX Faces Cash Shortage

Brazil Colombia M&A

CCX Carvao da Colombia is negotiations to sell its Canaverales and Papayal projects, the Eike Batista-controlled company says. The news came late Wednesday after the announcement of Batista’s sale of control of LLX to US private equity fund EIG, raising up to BRL1.3bn ($555m). More asset sales are likely, as the EBX Group tries to raise cash to confront shrinking liquidity. A similar deal could be next for miner MMX, according to officials’ remarks on a conference call. OGX is in the most seriou

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