Batista Details CCX Auction

Eike Batista has detailed plans for the auction to repurchase shares in the CCX coal mining unit, scheduled for July 12, CCX says. The Brazilian billionaire is preparing to delist CCX through the operation, which could reach BRL281m ($138m). He is offering shares of the other publicly-traded EBX companies – OGX, LLX, MMX MPX and OSX – in an exchange valuing the CCX shares at BRL4.31 each. The shares closed at BRL3.92 Tuesday. The company says there are 65m CCX shares in the public float.