Eike Unloads More OGX Shares

Eike Unloads More OGX Shares

Brazil Equity

Eike Batista sold 177.2m shares of OGX Petroleo e Gas Participacoes in the past few days, the oil company says, a piece representing 5.49%. The position would be worth BRL71 ($30m) at Wednesday’s BRL0.40 closing price. It follows Batista’s sale of 1.54% of OGX announced last week. Batista has sold 11.14% of OGX's stock since March, and intends to hold on to at least 50.01%. The company is running out of cash, and analysts are forecasting a default and likely exchange offer to holders of OGX’s $3

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