Batista’s CCX slashes price on mine sale

CCX has agreed to sell three mines to Yildirim Holdings for $125m. The price is sharply lower than the $450m which CCX indicated it might get for the assets in October, when it announced it was discussing a deal with Yildirim. CCX, part of Eike Batista’s EBX Group, on Monday highlighted that the deal was still subject to due diligence in October, and that the revised price took into account getting environmental licenses. Morgan Stanley advised CCX.