Eike Pulls CCX Delist

Eike Batista has put off plans to buy up the shares of his CCX Colombian coal mining unit and delist it, CCX says. After twice delaying the date of the auction, in which investors could swap CCX shares for shares of Batista’s other companies in a deal totaling up to BRL281m ($127m), the billionaire has determined that market conditions do not support the repurchase. The offer valued CCX at BRL4.31 per share. The shares closed at BRL1.28 Wednesday. The change follows falling prices at many of the EBX family entities, with the group announcing it had restructured debts last week.