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The SP government is holding an energy auction on the 19th, at B3- Capitalist

The SP government is holding an energy auction on the 19th, at B3- Capitalist

Next Friday (19), the São Paulo government will hold the auction that will conclude the privatization of the Metropolitan Water and Energy Company (Emae). The values ​​proposed by interested companies will be revealed at the B3 headquarters (B3SA3) in the capital, São Paulo.

The auction will be conducted in the form of a single lot, covering 14.7 million shares, of which 14.4 million are owned by the government and 350,000 by Compañía do Metropolitano de São Paulo (Metro). To win, the minimum bid must exceed R$776.89 million, taking into account that each share has a value of R$52.85.

According to the applicable rules, during the session, an open protest bid may occur if there is an offer up to 20% lower than the best offer. In addition, interested parties must provide financial guarantees equivalent to 1% of the total value determined for the sale of shares.

Energy auction

Imai is responsible for managing the hydraulic and electrical power generation system located in the metropolitan area of ​​São Paulo, Baixada Santista and Medio Tete. According to information released by the state administration, the company has 361 employees, a number subject to change due to the incentive dismissal program.

Sabesp joins the companies selected for the privatization process in the state of São Paulo. The company's auction is scheduled to take place the same week that the São Paulo City Council holds hearings to discuss the sale of the Companhia de Saneamento Básico do Estado de São Paulo. The first of these sessions was held yesterday (15), with the next scheduled for tomorrow (17), when a demonstration in front of the council is also scheduled.

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The controversy surrounding Sabesp revolves around whether or not the company will continue to be responsible for water supply and sewerage services in the capital. Bill (PL) No. 163/2024, which proposes the privatization of the public company, was approved by the São Paulo State Legislative Assembly in early December 2023 and approved by Governor Tarcisio de Freitas.

Sabisa

Sabesp serves 27 million people in the state, approximately 70% of the urban population, distributed among 375 municipalities, which is equivalent to 58% of the total number of cities in São Paulo. These figures have been cited by anti-privatization social movements, arguing that access to basic sanitation is a fundamental right guaranteed by the Federal Constitution and that privatization tends to exacerbate and make services provided to the population more expensive.

At the beginning of last year, Governor Tarcisio de Freitas stated that the privatization of Emae and Sabesp would not lead to an increase in the prices of the services provided. He stressed that the goal is to attract investments and accelerate the goals of universalizing water and sanitation services set for the year 2033.

(With Brazil agency).