|By PR Newswire||
|March 6, 2013 06:37 PM EST||
RIO DE JANEIRO, March 6, 2013 /PRNewswire/ -- The EBX Group and BTG Pactual announce the signing of a novel strategic cooperation agreement. The agreement contemplates financial advisory services, credit facilities and future long-term capital investments for the transformational projects currently being developed by the EBX Group in its segments. "This cooperation represents, above all, a partnership for the success of Brazil", said Eike Batista, EBX Group's CEO and Chairman.
This new cooperation will have a Strategic and Financial Management Committee comprising of senior executives from the EBX Group and of senior partners of BTG Pactual. The Committee will be led by Eike Batista and Andre Esteves and will meet on a weekly basis to discuss overall strategies relating to EBX Group's capital structure and investments for the short, medium and long-term projects and activities of the group's portfolio of companies. The agreement does not grant any exclusivity for BTG Pactual to render financial services to the EBX Group.
BTG Pactual's remuneration will be solely based on the performance of the EBX Group's public companies. Andre Esteves, BTG Pactual's CEO, stated that: "This cooperation shows once again our firm willingness to support unique projects and national entrepreneurship, areas in which Eike Batista is an icon".