Share was priced at R$49.03, above the floor stipulated by Minas Gerais; business could reach R$7.9 billion with extra lot
Copasa (Companhia de Saneamento de Minas Gerais) announced, on Wednesday (June 3, 2026), that Equatorial will be the state-owned company’s reference shareholder. The group, which already controls Sabesp (Companhia de Saneamento Básico do Estado de São Paulo), proposed paying R$5.6 billion for a 30% stake in the Minas Gerais company.
The deal was closed without competition. Equatorial offered R$49.03 per share, a value that exceeded the minimum price of R$47.23 required by the government of Minas Gerais, the current controlling shareholder.
According to the proposal, Equatorial also demonstrated interest in acquiring a batch of up to 48 million additional shares. If the extra amount is allocated, the total value of the transaction could reach R$7.9 billion.
2nd SALE ATTEMPT
It was the 2nd time, during the privatization process of the state-owned company in Minas Gerais, that Copasa received acquisition proposals.
In the 1st attempt, the bids presented by Equatorial itself and by Aegea partners did not reach the minimum value estimated by the government of Minas Gerais.
In this 2nd round, the group formed by Aegea partners decided not to present an offer, and left the way open for Equatorial.
ACTIONS FOR RETAIL
The privatization process will have a new stage on Friday (June 5). Copasa will begin collecting investment intentions aimed at retail investors. This portion will involve shares that currently belong to the Minas Gerais government.
