IKN

Every why hath a wherefore

If you think Eike Batista paid too much for Ventana Gold, think again

According to your humble scribe’s rough calculations, what with taking into account the 20% of shares of Ventana Gold Eike Batista owned at lower prices before buying out the other 80% in early 2011, the man paid about $1.35Bn for the company.
Today we read that Eike plans to sell 49% of Ventana Gold to a strategic partner for around $2Bn (apparently there are five entities in serious discussions at this point). Hey, of course he might be exaggerating for media purposes, but chances are he’s not. 
By my rough calculations, 49% of $1.35Bn is very less than $2Bn. This is why you’re not as rich as Eike Batista. Thus ends today’s math lesson.

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