Overview

• Sabesp disclosed agreements that would give it 70.1% of Emae, positioning the move to bolster water security by integrating the Guarapiranga and Billings systems.
• The structure includes separate deals for 74.9% of Emae’s common shares from Vórtx at R$59.33 each and 14,856,900 preferred shares from Eletrobras at R$32.07 each, with potential earn‑out payments.
• Plans target roughly 7,000 liters per second of new treated supply using Emae sites, with proposed stations at Jardim Shangrilá by Billings and Jardim Ângela by Guarapiranga.
• Execution depends on approvals from Cade, Aneel and Arsesp, followed by executive designs, environmental constraints around Billings, and an estimated 2.5–3‑year construction phase once cleared.
• If completed, the acquisition would take Sabesp into electricity generation through Emae’s hydro portfolio, including the Henry Borden complex and long‑term, inflation‑indexed contracts.