Brazilian iron-ore miner MMX Mineracao e Metalicos SA acquired control of sister company PortX Operacoes Portuarias SA, allowing it to fully integrate its mining, port and shipping operations and to offer port services to third parties.

MMX, controlled by Brazilian billionaire Eike Batista, acquired 92.28% of PortX, which is also controlled by Mr Batista in an auction worth a total of BRR 6.34 billion (USD 3.96 billion).

(Sourced from Wall Street Journal)