Sabesp’s shares soared on Friday (20), rising almost 11%, after Rodrigo Maia took office. The former president of the Chamber of Deputies took over as secretary for Projects and Strategic Actions of the São Paulo government and declared that the privatization of the state’s basic sanitation company is the top priority for the São Paulo government. This was reinforced on Saturday (21) by the governor of São Paulo, João Doria, who stressed, however, that this is a long-term project. In a first stage, the state government intends to hire the International Finance Corporation (IFC) to carry out studies on the privatization process. There are options for both privatization and a possible capitalization of the company, without the loss of control by the State of São Paulo, which holds 51% of the company’s capital. However, after absorbing the impact of the statements, the market ended up returning all of Friday’s gains on Monday (23). Even so, analysts say the potential for the company’s shares to rise is still large.
The fair skirt with the central bank
Banks are increasingly uncomfortable with the Central Bank’s imposing posture in relation to three work fronts: Pix, interoperability of card receivables and open banking. According to the banks, there were three trading models launched in sequence, with no time to test systems, connections and technical capabilities among the participants. There was no period of adaptation of the different agents, for complex and large-scale systems, with (according to the banks) high risk potential for customers. They attribute the BC’s action to pressure for an artificial increase in competition in the financial system. “Nobody is against the competition. What you can’t do is to do it at the base of the steamroller”, said one executive. “In this artificial, anabolic way, there is a risk that things don’t work out and the customer complains. Then we lost this opportunity.”
Cosan’s new businesses
Fuel giant Cosan has launched a new investment strategy. On Monday (23), the company confirmed the purchase of 100% of the operations of TUP Porto São Luís, which owns a private-use terminal located in the capital of Maranhão. The agreement, valued at R$720 million, was signed between Cosan’s subsidiary, Atlântico Participações, China Communications Construction Company (CCCC), controller of the terminal and the minority shareholders of TUP Porto São Luís. also entry into the mining sector. Through its subsidiary Atlântico Participações, the group formed a joint venture with Grupo Paulo Brito, controller of Aura Minerals, to explore iron ore that will also be shipped through the port of São Luís.
Vitru with an eye on leadership
Grupo Vitru Educação, which controls the Santa Catarina-based Uniasselvi, announced on Monday (23) the purchase of UniCesumar, which has 330,000 students in Paraná. The transaction is valued at R$3.2 billion, with R$2 billion in cash and the remainder in shares. With the acquisition, Vitru will compete for leadership in the online education market, with around 635,000 enrolled students and presence throughout the country. The company will also have a degree in medicine, one of the most profitable courses in the sector. Today, UniCesumar has 1,600 vacancies in courses in the health areas, 348 of which in medicine. The transaction depends on the approval of the Administrative Council for Economic Defense (Cade).
the trillion XP
XP hopes to reach the R$1 trillion mark in custody this year. The statement was made by the Chairman of the Board of Directors of XP Inc, Guilherme Benchimol, during the opening of Expert XP 2021. He stressed that the company’s goal now is to reach 50 million customers in the coming years as it moves forward on new fronts of business. In the first half of the year, the company reached 3.1 million active customers and R$ 817 billion in custody, an 88% increase compared to the first half of 2020. About 18 months ago, XP expanded its action with cards, credit and digital account, and wants to expand offers for companies. On Friday (20), the brokerage firm and Itaú bank also announced the completion date of the separation process for October 1st, almost a year after the announcement, in November 2020.