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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| BlackRock Inc | NYSE:BLK | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 5.23 | 0.69% | 762.88 | 767.4799 | 757.75 | 759.77 | 447,565 | 01:00:00 |
From Apr 2019 to Apr 2024
By Luciana Magalhaes
SÃO PAULO--Investment management firm BlackRock, Inc. said Wednesday it is no longer part of a creditors group set to participate in the restructuring plan of Brazilian oil firm Oleo e Gas Participacoes SA, controlled by businessman Eike Batista.
A BlackRock unit that owned OGP debt at distressed levels and was a member of the ad hoc bondholder group sold the debt and is no longer a member of the group, a spokesman for BlackRock said in an email. The spokesman declined provide additional details on when and to whom the assets were sold.
OGP, formerly known as OGX Petroleo e Gas Participacoes, filed for bankruptcy protection in October with more than $4 billion in debts.
The company, once the backbone of Mr. Batista's industrial group, said last week that its creditors agreed to extend a deadline to complete a restructuring deal until next Friday.
OGP and the creditors had originally set Jan. 24 as the deadline for the agreement, which is expected to include an injection of around $200 million in fresh cash.
Write to Luciana Magalhaes at luciana.magalhaes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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