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Mubadala Development will invest US$2 billion in the Brazilian business group EBX founded by Eike Batista as part of a strategic partnership, Mubadala has announced. Under the terms of the agreement Mubadala will make the investment in exchange for a 5.63% preferred equity interest in Centennial Asset Brazilian Equity Fund and other offshore holding companies of Batista.
The proceeds of Mubadala's investment will be used to reinforce the group's already strong capital structure so as to help fund new enterprises across multiple business areas including recently announced partnerships by EBX. The agreement also gives Mubadala the right to participate in both EBX and Batista's pipeline of future investment opportunities, such as technology companies, cement, fertilizers, entertainment and others. In addition, the partnership creates a platform and framework for further collaboration between the two organizations in areas of mutual interest.
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