The Governor of Sao Paulo, Tarcisio de Freitas (Republicans), said he intended to start studies to privatize Sabesp (Basic Sanitation Company of the State of São Paulo), responsible for supplying water, collecting and treating sewage in most of the State.
Speaking to journalists on Monday (January 2, 2023) after the 1st meeting with government secretaries, Tarcísio informed that the new São Paulo government should structure privatization with the help of the World Bank, citing the privatization of Eletrobras like a model “adherent and adequate” to the health company.
He claimed to have discussed the topic with the team on the privatization of Emae (Empresa Metropolitana de Águas e Energia).
“We discussed how we are going to outline the first studies that we are going to hire, such as the privatization of Emae and the privatization of Sabesp, objectives that we will pursue over time”said.
Founded in 1973 during the term of former governor Laudo Natel, Sabesp is a publicly traded mixed economy company. The São Paulo government is the majority shareholder, with 50.3%.
The company has been listed on the B3 (São Paulo Stock Exchange) and the NYSE (New York Stock Exchange) since 2002.
Sabesp claims to be responsible for supplying water to more than 28 million people. In addition, 25 million are contemplated with sewage collection.
Among the company’s attributions are the depollution of rivers in the State, an old demand from the population. Over 25 years, PSDB governments’ plans to clean up the Pinheiros River alone totaled R$ 28.5 billion by May 2021. The process has not yet been completed.
In the 1st trading session of the year, Sabesp shares on B3 fell 6.49%, with shares quoted at R$53.45. The next quarterly result is expected to be released on March 23rd.
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