Batista to up OSX stake

A-Ok: Batista says he will buy more shares in shipbuilding company

Reuters/Scanpix

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By News wires

 16 March 2012 19:39 GMT

Brazilian businessman Eike Batista, the world's seventh-richest person according to Forbes, said Friday that he will exercise an option to buy up to $1 billion in shares of his shipbuilding and oilfield services company, OSX, in the second half of 2012.

In a conference call with investors, Batista said that the capital increase "will beef up OSX for the new orders that we anticipate," Dow Jones reported.

Batista confirmed comments made to the news wire Thursday by OSX Chief Financial Officer Roberto Monteiro that fresh orders from sister company OGX Petroleo e Gas Participacoes would be a trigger for the capital increase.

OSX's portfolio already includes five FPSOs and two well-head platforms ordered by OGX. Both OSX and OGX are part of Batista's industrial empire.

"I don't want to anticipate numbers [for the…

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