Overview

• Sabesp signed separate deals with Vórtx for 74.9% of Emae’s voting shares at R$59.33 each and with Eletrobras for 66.8% of preferred shares at R$32.07, including a potential earn-out.
• Upon completion, Sabesp will control 70.1% of Emae’s total capital and become the company’s majority shareholder.
• Sabesp’s plan targets treating about 7,000 liters per second by integrating Billings and Guarapiranga, with new plants at Jardim Shangrilá (1,000 L/s) and Jardim Ângela (2,000 L/s) and expanded inter-reservoir pumping in works slated for 2.5 to 3 years after approvals.
• Emae brings four hydropower plants totaling 960.8 MW, led by the 889 MW Henry Borden complex in Cubatão.
• Emae reported a Vórtx notice of accelerated maturity of Phoenix debentures secured by Emae shares and said it did not participate in the negotiations disclosed by Sabesp and Eletrobras.