Brazilian water and sanitation utility Sabesp has selected four investment banks to manage a follow-on share offering that would ultimately privatize the company, it said in a securities filing late on Thursday. Sabesp, which is controlled by the state of Sao Paulo, said it had picked BTG Pactual, Bank of America, Citi and UBS BB to structure the transaction, which the government expects to be completed by mid-2024. Sao Paulo, Brazil's most populous and wealthiest state, owns 50.3% of the company and would still hold onto a to-be-determined minority stake following the deal.
In this article, we will take a look at the 20 most valuable Brazilian companies heading into 2024. If you want to skip our detailed analysis, you can go directly to 5 Most Valuable Brazilian Companies Heading into 2024. Brazil’s Economic Outlook: At a Glance According to a report by Deloitte, the Brazilian economy has been […]
Brazilian state-run water utility Sabesp will be partially privatized through the sale of shares, Sao Paulo state Governor Tarcisio de Freitas said on Monday, adding that the state will maintain a minority stake. The plan aims to add additional 10 billion reais in investments and generate around 66 billion reais ($13.97 billion) by 2029 for the utility, Freitas said during an event. In March, Freitas said the state would hire the World Bank's International Finance Corporation for privatization studies, which is expected to take place in 2024.