✓ verbatim from the press
Equatorial was confirmed as the finalist reference investor in the privatization of Copasa (CSMG3), offering R$ 49.03 per share — a value above the minimum price of R$ 47.23 established for the offering. The company, through its subsidiary Gerais Saneamento S.A., was the only bidder in this stage after the withdrawal of the Aegea consortium. ✓
Press quotes (1)
"A Copasa (CSMG3) informou nesta quarta-feira (3) que foi concluído o procedimento para definição dos investidores de referência finalistas no âmbito de sua oferta pública de ações. Segundo a companhia, a Gerais Saneamento S.A., controlada pela Equatorial, foi escolhida como investidora de referência finalista."
According to Copasa, Equatorial committed to invest approximately R$ 5.59 billion for all shares in the priority allocation, corresponding to 30% of the company's share capital. The company also expressed interest in an additional allocation of up to 48 million remaining shares, raising the total potential investment to about R$ 7.95 billion. ✓
Press quotes (1)
"De acordo com o pedido de investimento apresentado, a empresa se comprometeu a investir R$ 49,03 por ação na alocação prioritária, o que corresponde a aproximadamente R$ 5,59 bilhões pela totalidade das ações dessa etapa da oferta."
The Aegea consortium, which included holding company Itaúsa, decided not to submit a new proposal after the minimum share price was set. Itaúsa confirmed in a market announcement the joint decision of investors to withdraw from the process. ✓
Press quotes (1)
"a holding Itaúsa, que faz parte do grupo de controle da Aegea, confirmou, em comunicado ao mercado, ter decidido, em conjunto com os demais investidores, não apresentar um nova proposta, após a definição do preço mínimo por ação da Copasa."
The reservation period for non-professional investors will begin on June 5, 2026. Under the operation's structure, about 64.6% of shares will remain in market circulation, while the State of Minas Gerais will maintain a residual 5% stake, plus the golden share. ✓
Press quotes (1)
"Conforme o cronograma apresentado no prospecto preliminar, o período de reserva da oferta terá início em 5 de junho de 2026, quando investidores da oferta não profissional poderão registrar seus pedidos de reserva junto às instituições participantes."
Equatorial was the only bidder in the final phase after Aegea's withdrawal
The price offered by Equatorial was R$ 49.03 per share
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (1)
Equatorial could invest up to R$ 7.95 billion in total considering additional allocation
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What were the specific criteria that led to Equatorial's selection as the sole finalist?
Why it's still unknown: Sources do not detail the evaluation criteria used in the selection process beyond the price offered per share.
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What was the specific reason for the Aegea consortium's withdrawal beyond the minimum price setting?
Why it's still unknown: Sources only mention that the decision occurred after the minimum price was set, without explaining if there were other strategic or financial considerations.
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What are the specific conditions provided in the offering that still need to be met?
Why it's still unknown: Sources mention that the investment's completion is subject to meeting conditions provided in the offering, but do not specify them.