Eike Batista trims stake in flagship oil firm OGX again

7/11/2013

Eike Batista trims stake in flagship oil firm OGX again

BY LUCIANA MAGALHAES

SAO PAULO -- Eike Batista has once again sold shares in his troubled flagship oil company, OGX .

In June, the troubled businessman raised $33.2 million from the sale of 56.2 million ordinary shares, cutting his stake in the company from 58.92% to 57.18%, according to a statement.

That's the second time this year the troubled tycoon has sold OGX shares.

In May, he raised $53.60 million from the sale of 70.5 million shares. Just after the sale, Mr. Batista said that was a minimal portfolio adjustment, and that he didn't plan to sell any more shares in the company.

Dow Jones Newswires

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