NEW YORK (MarketWatch) -- General Electric
Co. said Thursday it will make a $300 million investment that "paves the way for increased collaboration" with EBX, a conglomerate run by Brazilian billionaire Eike Batista. GE will receive a 0.8% preferred equity interest in Centennial Asset Brazilian Equity LLC and other ofshore holdings company of the EBX Group
. "EBX is already a large GE strategic partner and by strengthening our existing relationship, this investment opens up more opportunities in key resource-rich areas of the world," said GE Chief Executive Officer Jeffrey Immelt.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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