Batista Gives Up OGX Control in $5.8B Debt Deal

Batista Gives Up OGX Control in $5.8B Debt Deal Play

Dec. 26 (Bloomberg) -- The Brazilian oil company controlled by one-time billionaire Eike Batista reached an agreement with creditors to convert debt of about $5.8 billion into a 90 percent stake in the company, two months after defaulting in Latin America’s biggest-ever corporate debt debacle. Alix Steel reports on Bloomberg Television's "Market Makers." (Source: Bloomberg)

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