INSEAD the business school for the world

Welcome to our support website for the business case “EBX Group” (A, B & Condensed Version).

Read inspection copies of the part A, part B and Condensed Version.

Prizes and Awards

2018 - Winner of the EFMD Case Writing Competition 2017 in the Category “Latin American Business Cases”.


Case A explores the career trajectory of Eike Batista, CEO and founder of EBX, a Brazilian conglomerate focused on mining, oil & gas, shipping and other industries, who is already looking to expand into new markets while his existing businesses are only just moving into an operational phase. His success comes from his strength in exploiting the institutional void in Brazil to uncover new market opportunities; operationalizing these new businesses is quite another challenge.

Case B charts the extraordinary debacle of EBX Group and Eike Batista, who loses US$30 billion in one year.

Teaching Objectives

  1. Institutional voids and the ability of firms to exploit such voids for new business opportunities.
  2. Organizational ambidexterity: the challenge of exploiting existing business opportunities while exploring new ones.
  3. Time compression diseconomies in building a large conglomerate in an emerging market.

How to buy the case

  • Hard and soft copies of the case and teaching note (which contains the login and password to access the private area of this site) can be purchased via our distributors’ websites. To choose a distributor please visit the INSEAD Case Distributors page.
  • The case can also be purchased directly from INSEAD.
  • If you are not a registered instructor, follow the instructions on our distributors’ websites to identify yourself as such.