Sabesp (Basic Sanitation Company of the State of São Paulo) announced this Sunday (5) the purchase of controlling interest in EMAE (Metropolitan Water and Energy Company), now holding 70,1% of the company's share capital. The transaction value was R$1,13 billion.
The agreement involves the acquisition of 74,9% of EMAE's common shares, held by Vórtx (as trustee), at a price of R$59,33 per share. Sabesp also acquired 66,8% of the preferred shares, previously held by Eletrobras, for R$32,07 per share.
According to the material fact signed by Daniel Szlak, Sabesp's Chief Financial and Investor Relations Officer, the transaction is strategic. The company emphasized that the acquisition strengthens its water security and expands its operations in power generation assets.
EMAE is responsible for integrating the Guarapiranga and Billings systems, which, according to Sabesp, will allow “greater flexibility in the management of water resources in the São Paulo Metropolitan Region, increasing water supply security and enhancing the multiple uses of these sources.”
Furthermore, EMAE has a diversified power generation portfolio, with solid cash flow and long-term contracts indexed to inflation, which contributes to financial stability and sustainable value generation.
The company currently operates five plants, four hydroelectric and one floating solar, totaling 960,8 MW of installed capacity:
- Henry Borden HPP, in Cubatão (SP) — 889 MW
- Rasgão HPP, in Pirapora do Bom Jesus — 14,5 MW
- Porto Góes HPP, in Salto — 24,3 MW
- Pirapora do Bom Jesus Small Hydroelectric Plant — 25 MW
- UFV Araucária, floating solar plant on the Billings Reservoir — 7 MW
The move comes just months after the privatization of Sabesp, completed in July 2024. At the time, the Equatorial Group, one of the main players in the national electricity sector, became a reference investor, acquiring 15% of the company's capital for approximately R$6,9 billion.
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