On 04 June, 2024  Sabesp  released info about the sale of  the company's common shares, maintaining 18%.

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By Suno - Vinícius Alves - 06/05/2024

On 04 June 2024  Sabesp released info about the sale of  the company's common shares, maintaining 18%. According to Genial Investimentos, this operation has the potential to significantly unlock value, leading analysts to recommend the purchase of shares, with a target price of R$77.

Genial highlights several factors that justify the estimate of a significant potential for unlocking value for the company after the completion of  Sabesp's privatization . Among these factors are:

  • Evolution of the Regulatory Remuneration Base and repricing in terms of multiples.
  • The case of Equatorial (EQTL3), whose market value has multiplied more than 20 times in the last 10 years.
  • The current situation in the sanitation sector in Brazil, which represents a great opportunity for Sabesp.

In relation to share capital, of which the State of São Paulo will maintain 18%, the research assesses that this has always been the base scenario, associated with the company managing the new investment flow without the need for new resources.

“Another interesting point is the indication of the size of the operation: considering the minimum share to be achieved versus the current share that the SP state government has in Sabesp, we imagine that the operation could reach a volume of up to R$16 billion if we consider the current market prices – that is, an operation of relevant size where the possible winning group must be formed via a consortium”, comments Genial. 

The offer will involve the entry of a control group and the inclusion of a reference investor, who will have up to a 15% stake in this group. The winning group will be subject to a lock-up of  Sabesp shares , preventing the sale of this slice of the company until December 2029, a period in which the most intense phase of investments should be close to an end.

“This factor is not surprising, as it was also widely expected. We found this measure interesting as it gives a “face” to the control of the new company. Several groups expressed interest in participating in this privatization, and it is too early to identify a big winner – which we imagine will materialize via consortium”, adds the research. 

Sabesp: State of SP will maintain a minimum of 18% of the capital

Sabesp gave more details about the sale of the company's common shares held by the state of São Paulo, which will maintain at least 18% of the company's share capital.

According to the document, this percentage could be even higher, “depending on market conditions, through a Public Offering, to be carried out and registered with the CVM”.

Sabesp's public offering ,  therefore, will select a  professional investor  to act as a reference investor after privatization, through the priority allocation of shares representing 15% of the company's share capital.

Furthermore, it was also determined that the shares subject to the public offering and representing 10% of  Sabesp's share capital  must be allocated primarily to the company's employees.

Finally, the percentage of 10% of the company's share capital was ratified as the minimum necessary for the State of São Paulo to maintain special class preferred shares ( golden share ). In other words, with the privatization of Sabesp, the state loses its status as  controlling shareholder , but, through a golden share, it maintains veto power over strategic decisions, such as changing the company's name, headquarters and corporate purpose.

The sale of  Sabesp shares  had been authorized on Monday (03) by the Board of Directors of the State Privatization Program (CDPED).

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Sabesp privatization will have non-competition clause

On Monday (3), the governor of São Paulo, Tarcísio de Freitas (Republicans) spoke to journalists about  Sabesp's privatization model . According to him, the offer will be secondary, and the process will have a non-competition clause for companies interested in the company.

Vinícius Alves

THE NEW COMPANY DETAILS ARE

The Companhia de Saneamento Básico do Estado de São Paulo (SABESP) has recently updated its board of directors. The new board includes the following members:

  1. Karla Bertocco Trindade (Independent Member and Chairman): She has a background in Public Administration and Law, with extensive experience in regulatory and infrastructure sectors. She has served in various roles, including CEO of SABESP in 2018 and Executive Government and Infrastructure Officer at BNDES in 2019.
  2. Nerylson Lima da Silva (Member): An economist with experience in finance and budget management, currently serving as the Treasury Undersecretary at the State Treasury Department of São Paulo. He has held several governmental roles, including Undersecretary of Planning, Budget, and Administration.
  3. Antonio Júlio Castiglioni Neto (Member): He is the current President of Companhia do Metropolitano de São Paulo - Metrô, with a legal background and experience in public-private partnerships and concessions.
  4. Anderson Marcio de Oliveira (Member): With a legal and regulatory background, he is currently a Program Director at the Ministry of Mines and Energy. He has experience in the electricity and infrastructure sectors and has held positions at the Brazilian Development Bank (BNDES).
  5. André Gustavo Salcedo Teixeira Mendes (Member): The Chief Executive Officer of SABESP since January 2023, with a background in engineering and finance, he has significant experience in infrastructure finance and public-private partnerships.

These changes reflect SABESP's commitment to enhancing its governance and strategic oversight as it continues to provide water and sewage services in São Paulo​ (MarketScreener)​​ (MarketScreener)​.

4owhat is their new address, phone and email?ChatGPT

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Here are the current contact details for SABESP, the water and sewage company in São Paulo, Brazil:

Address: Companhia de Saneamento Básico do Estado de São Paulo (SABESP) Rua Costa Carvalho, 300 Pinheiros, São Paulo, SP CEP: 05429-900

Phone: +55 11 3388-8000 (Main Office) Customer Service: 0800-011-9911

Email: For general inquiries and customer service, you can visit their official contact page for specific email addresses and further contact options​ (Wikipedia)​​ (Labwin)​.

The SABESP office in Ubatuba has moved its services to the Poupatempo Ubatuba location. The details for this office are:

Address: Rua Professor Thomaz Galhardo, 1172, Bairro Umuarama, Ubatuba, SP

Operating Hours:

  • Monday to Friday: 9 AM to 5 PM
  • Saturday: 9 AM to 1 PM

For service, it is necessary to schedule an appointment through the Poupatempo website or the Poupatempo Digital app.

Contact Information:

For more information and to schedule an appointment, you can visit the Poupatempo website​ (Litoral em Pauta)​​ (Prefeitura Municipal de Ubatuba)​.

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