May 5, 2011

Eike Batista on the safe corporate legal environment in Brazil

Respect to contracts, right to law, and everything that you have acquired today is grandfathered. Let's say, whatever assets my company has today, in my mining company, my oil company, they are concessions. For instance, in oil they last for 28 years, they're grandfathered. This is very important. The government will not change the rules on what I already have. I think for investors this is very important. They may change the rules going forward -- increase taxes, royalties -- but what I have today, I have today.

~Eike Batista, chairman and CEO, EBX Group, CNBC interview, May 4, 2011

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