STXNEWS LATAM-Brazil's Cade approves Mubadala, Trafigura deal on MMX port

Reuters

Brazil's antitrust regulator Cade approved a deal giving Dutchenergy firm Trafigura Beheer BV and MubadalaDevelopment Co control of the iron ore port MMX PortoSudeste Ltda, formerly controlled by tycoon Eike Batista,Brazil's official gazette reported on Wednesday.

The $996 million agreement to give the two firms 65 percentof the port is needed to reduce Batista's debt load and secureinvestment in the port slated to start operating by mid-2014.

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