Latin America's Biggest Water Utility Gears Up for Privatization [BNN Bloomberg (Canada)]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
Company Research
Source: BNN Bloomberg
Cia. de Saneamento Basico do Estado de Sao Paulo, known as Sabesp, has a “potential window” for the equity offering starting in mid-May, after Sabesp publishes its first-quarter financial results, and running until mid-August, Andre Salcedo said in an interview. Salcedo, who took the reins in January, has launched a cost-cutting push that includes shedding about 15% of Sabesp's staff and lowering energy expenses. The company is also working to reverse the post-pandemic surge in delinquency rates. By selling the state's controlling stake, the utility hopes to lure some key investors “with a long-term vision, knowledge of the infrastructure sector's dynamics and the know-how of Brazil's regulatory environment,” Salcedo said Thursday at Bloomberg's Sao Paulo office. Sabesp's move will be a key test of privatization in Latin America's biggest economy. President Luiz Inacio Lula da Silva vowed, during last year's election campaign to unseat free-market champion Jair Bolsonaro, to ha
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