Investors seemed to be positive with regard to news from former Brazilian billionaire Eike Batista about Oleo & Gas Participacoes SA's creditors agreeing to convert $5.8 billion worth of company debt into equity stakes.
OGX Petroleo & Gas Participacoes SA
Breaking News
Brazilian oil company OGX is reportedly in talks with bondholders about a USD150 million capital infusion in the struggling firm. OGX previously reported a loss of BRL2.1 billion and filed for bankruptcy with USD4 billion in debt.
OGX Petroleo & Gas Participacoes sold the stake it held in its only producing asset shortly before filing for bankruptcy.
Batista's worth went down 74% after losing more than US$30 billion.
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