According to billionaire Eike Batista, his commodity companies OGX, MMX and MPX will pay dividends to their shareholders in 2015. His forecast was made today at Rio Investors Day, where he also criticized the market’s rush to get return on investments.
In his presentation, Batista said the group has US$ 8 billion in cash and said that the recent devaluation of the Real was good for his businesses. ”I now have a cost advantage of 20%.”
Asked if the EBX Group would be interested in making a new foray for buying stake in Vale, Batista denied. ”I’ll tangle in red tape that I am not accustomed.” He said the speed at EBX is a vector of wealth, of fast decisions. He recalled that the former president of Vale, Roger Agnelli, “saw him as an enemy” as well as the former president of Petrobras, Jose Sergio Gabrielli. ”I spent seven years fighting.”
At the same event, Batista said that the market has little patience to see projects mature. When talking about his businesses, he said that OSX manufactures ships and platforms 20% cheaper than the competition.