Eike Backtracks on LLX Delist

Eike Batista has suspended a plan to delist his LLX Logistica port operator, EBX says in a statement. The billionaire had initially been looking at spending more than BRL600m ($297m) on the sale, offering up to BRL3.13 per share for all of the outstanding shares, when the idea was first proposed in July. However, an independent evaluation by Bank of America Merrill Lynch suggests BRL6.94-BRL7.63 would be fair. Ontario Teachers’ Pension Plan, the second-largest holder after EBX, had agreed to boost its stake in the company as part of the delisting offer. LLX closed Thursday at BRL3.13.