Operation involves the acquisition of 70.1% of the total capital of the Metropolitan Water and Energy Company, privatized in April 2024
Age the purchase of control of (Metropolitan Water and Energy Company) for R $ 1.13 billion, aiming to integrate Guarapiranga and Billings systems to ensure the water safety of São Paulo.
In the relevant fact released by the company, Sabesp said it will buy 74.9% of EMAE’s common shares that belonged to Phoenix Água e Energia, by businessman Nelson Tanure, for R $ 59.33 per share, and 66.8% of the preferred shares arrested by Eletrobras, to R $ 32.07 per share. This is the ad (PDF – 122 kb).
The transactions, however, still depend on approval by regulatory and competition defending bodies. Tanure said he was not involved in the negotiations and that he goes to court against the transaction, according to the newspaper.
If you receive the approval of Aneel and Cade, Sabesp will have 70.1% of EMAE’s total capital.
“By joining water safety with energy potential, the acquisition expands the synergy between the company’s business and consolidates a more robust basis for facing climate and growing demand for essential services.”says Sabesp’s note.
The sale of EMAE control to the FIP Phoenix Investment Fund, was the 1st privatization made in São Paulo in the government of (Republicans).
Emae was the last São Paulo energy company that still had state control. It was created in 1998 after Eletropaulo’s split process. The company operates in the area of hydroelectric power generation, with plants that total 1,663 GWh, enough to supply an average of 825,000 homes in Greater São Paulo.
The company has 4 generating units: Henry Borden hydroelectric plants, Porto Góes and Tear, as well as the small pirapora hydroelectric plant. The company also operates the service of ferry crossings at 3 points of the Billings dam, 24 hours a day.
In 2023, Emae made a profit of R $ 150.5 million and reached market value of R $ 2.3 billion. The corporation of mixed economy had a divided equity composition between the state government (controller with 39% of shares) and the, which also has 39%. There are still 33% distributed among minority shareholders.
