The consortium led by Aegea won the auction for the privatization of Rio Grande do Sul sanitation company Corsan, held this Tuesday (20) with a single offer of around R$ 4.15 billion, which represents a premium of 1.15% over to the minimum established in the notice.
In addition to Aegea, the consortium that won Corsan is formed by asset managers Perfin and Kinea. Aegea, created in 2010, is one of the largest sanitation companies in the country and has a series of concessions in the area in the country, which include part of the assets that formed the state-owned water and sewage company Cedae. The company has among its main partners the Itaúsa holding company.
The auction marked another step in sanitation privatizations in Brazil, after Congress approved the sanitation framework in 2020, which encouraged the attraction of private sector resources to expand the scope of sewage collection and treatment services and water distribution. one of the country’s main infrastructure problems.
Corsan has contracts in force to provide services in 307 municipalities, serving more than 6 million people, according to the auction notice.
The government of Rio Grande do Sul even released a prospectus for the sale of the company’s control via an initial public offering of shares (IPO), but changed the privatization model in the middle of this year.
The auction still had comings and goings in court. The President of the Superior Labor Court (TST), Minister Lelio Bentes Corrêa, authorized the continuation of the privatization process the day before, following a request from the Attorney General of Rio Grande do Sul. This is because a writ of mandamus filed by the Union of Workers in the Water Purification and Distribution Industries and in State Sewage Services suspended the process.
“It is important to say that perhaps the judicialization…may have alienated other investors, but, in any case, the important thing is that the deal took place”, said the governor of Rio Grande do Sul, Ranolfo Vieira Júnior.
In July, Rio Grande do Sul auctioned the electricity generator CEEE-G to the CSN group. Last year, the State sold the energy distributor CEEE-D to Equatorial Energia and the transmission arm CEEE-T to CPFL Energia.
In the gas sector, the State sold the piped gas distributor Sulgás in 2021 to Compass, a Cosan company.
Source: CNN Brasil
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