The oil and gas company, launched in 2007 by Brazilian entrepreneur Eike Batista, which raised $1.3 billion in November 2007, has had a dramatic and very public collapse, entering bankruptcy in October this year and delisting from the Bovespa in November. Since October 2010 the company’s market capitalization has fallen by more than $45 billion, with a negative impact on the equity portfolios of many international investors that had bought into the Brazil pre-salt-layer oil discovery growth story.
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