CCX Again Delays Share Buyback

Eike Batista has pushed back the auction to repurchase shares in the CCX coal mining unit, to July 31 from July 12, CCX says. The company had delayed previously, from a June target. The Brazilian billionaire is preparing to delist CCX through the operation, which could reach BRL281m ($129m). 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 BRL1.40 Tuesday. The company says there are 65m CCX shares in the public float.