EBX plans to use the proceeds to further enhance its capital structure and help finance future investment opportunities.
EBX Group founder and controlling shareholder Eike Batista said: "GE’s investment further solidifies what has been a great working partnership that taught us the value of having access to GE’s state-of-the-art equipment, services and technologies and worldwide expertise across so many industries, especially because in today’s business environment this is a key component for any large industrial group such as ours."
GE Latin America president and CEO Reinaldo Garcia said, "The company believes in this country and this investment will help accelerate the operations of one of GE’s strategic partners that, over the years, has played an important role positioning Brazil as an entrepreneurial country on the international stage."
GE, which is a key supplier to the EBX Group companies in industries such as oil and gas, power generation and mining, stated the deal supports its efforts to bring certain industrial production to the Açu Superport in Rio de Janeiro developed by LLX Logistica, an EBX unit.
EBX Group noted GE’s investment will also enable the growth of its current mining equipment and services business, which includes the recently announced acquisition of two underground mining equipment companies, Fairchild International and Industrea.
