Batista’s MMX Shares Fall on Trafigura-Mubadala Deal: Rio Mover

Shares of Eike Batista’s mining unit MMX Mineracao & Metalicos SA slumped while securities linked to royalties of its Sudeste port jumped after the company agreed to sell control of the terminal to Trafigura Beheer BV and Mubadala Development Co. in a $400 million deal.

MMX declined 17 percent to 1.89 reais at the close in Sao Paulo today, the biggest drop since July 12 and the worst-performer on Brazil’s benchmark Ibovespa index, which slid 0.5 percent. The securities linked to future revenue of the Sudeste port, called MMXM11, surged 12 percent to 2.68 reais to close at its highest since June 6.