August 28, 2013
Eike Batista plans sell up to $50m in shares of shipbuilder OSX Brasil, usi
Eike Batista plans sell up to $50m in shares of shipbuilder OSX Brasil, using proceeds from the sale to fulfill part of a $1bn put option, OSX says. The public sale would also serve to keep OSX’s free-float above a required 25% minimum. Batista will maintain his stake in the company above 50%. About $330m remains on the $1bn put option, which was part of OSX’s 2010 IPO, and can be exercised through March 2014.