EBX Considers Korea Pact

Executives from SK Group were in Brazil last week to study potential new businesses with Grupo EBX. According to EBX, the South Korean industrial conglomerate is particularly interested in working with EBX in the infrastructure and natural resources sectors. In October, SK Networks, a subsidiary of SK Group, invested $700m in MMX, the mining subsidiary of EBX. The deal made SK the third largest shareholder in the company. The delegation met with executives from EBX subsidiaries MMX, LLX, OGX, MPX, OSX and REX, and reviewed the Acu Superport and mines in the Serra Azul region. EBX, the umbrella company for Eike Batista’s various businesses, is investing $15bn through 2012 in the petroleum, logistics, energy, mining and offshore sectors in Brazil.