The company was the only one that submitted a proposal for the position of main shareholder
The government of São Paulo announced this Friday (June 28, 2024) that the Equatorial Energy was the only finalist in the public offering of shares of Sabesp (Basic Sanitation Company of the State of São Paulo). The infrastructure company offered R$6.9 billion for 15% share.
Aegea was expected to participate in the competition, but the company withdrew because it was dissatisfied with the poison pill which prevents the reference investor from acquiring other shareholdings to increase its influence in Sabesp.
The governor Tarcisio de Freitas (Republicans) said they were “satisfied” with the result of the contest, which is “on schedule”, and did not comment on the lack of competition.
Tarcísio started a series of meetings with potential investors on Monday (June 24). He is accompanied by teams from the State government and Sabesp. Over the next 3 weeks, they will meet with businesspeople in the United States, Europe and Brazil.
From July 1st to July 15th, there will be a period of reserving shares for retail investors. Around 18% of the share for sale by the São Paulo government will go to this portion.
Equatorial Energy
Equatorial Energia has 7 electricity concessionaires in the states of Maranhão, Pará, Piauí, Alagoas, Rio Grande do Sul, Amapá and Goiás. In 2021, it debuted in the sanitation sector by beating 6 competitors and winning the concession for 16 cities in Amapá.
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