Bloomberg News

Batista’s LLX, OSX Fall as Brazil Prosecutor Seeks Work Halt

January 31, 2013

LLX Logistica SA (LLXL3), the Brazilian port developer of billionaire Eike Batista, fell after a Brazil prosecutor sued to suspend works of the company’s Acu Port complex.

LLX declined 1 percent to 2.23 reais at the close in Sao Paulo, the lowest since Dec. 19. OSX Brasil SA (OSXB3), Batista’s unit that is building a shipyard at Acu, fell 9 percent, its lowest close since Dec. 10.

Public Prosecutor Eduardo Campos de Oliveira, from Rio state’s Campos dos Goytacazes, entered an action against LLX, OSX and EBX Group Co., the holding for most of Batista’s assets, requesting the suspension of works at the Acu Port complex, according to an e-mailed statement today. Construction at Acu produced “evident environmental damage” to the wildlife of the region, the prosecutor said in the statement, proposing a fine of 100,000 reais ($50,259) a day if the suspension request is not heeded.

An e-mail sent by Bloomberg news to LLX and OSX’s press offices in Rio seeking comment wasn’t immediately answered. EBX didn’t reply to an e-mail seeking comment.

To contact the reporter on this story: Juan Pablo Spinetto in Rio de Janeiro at jspinetto@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net


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