Earlier this month, Mubadala restructured approximately $2.3bn worth of debt owed by Batista’s EBX Group, reducing the amount the conglomerate owes Abu Dhabi by more than 25 percent.
Mubadala bought a 5.6 percent stake in EBX in March 2012, but shares in the company have lost about $10bn in market value this year on concerns over how sustainable its business model is.
A report by Bloomberg in December said Batista had to pledge additional stakes in his companies that shields Mubadala from the selloff in his publicly traded companies. Shares in ailing oil producer OGX Petróleo e Gás Participações SA are down almost 90 percent this year.
Additional steps to restructure the conglomerate's debt should take several months, a source said, adding that the biggest challenge will be reorganizing ailing oil producer OGX.