Batista to Put Cash in OSX

Eike Batista plans to put $1bn in equity into his OSX shipbuilding company, OSX says, fulfilling a put option agreement that was part of its March 2010 IPO. In addition to Batista’s own money, he may use financing to fulfill his pledge, having agreed to BRL1.8bn ($1.0bn) in two-year loans from Bradesco and Itau, according to OSX. Separately, Batista’s EBX Group has struck a joint venture deal with global catering company the Newrest Group, EBX says. The new venture, NRX-NEWREST, will focus on offering catering services to airlines and railways as well as off-shore and remote operations for the oil sectors and others in Brazil. In 2011, Newrest posted $800m in worldwide sales.