Aegea expects to sign a contract for Corsan in the coming days and projects an investment of BRL 1 billion in 2023

The company Aegea, which won in December 2022 the auction of Companhia Riograndense de Saneamento (Corsan)wait for before the end of May it is possible to sign the contract for the purchase and sale of the company with the government of Rio Grande do Sul, which controls the state-owned company. According to Aegea’s VP of Operations, Leandro Marin, if the agreement is signed on schedule or in a short period of time, the investment for this year for Corsan, added to what has been applied so far, is in the order of R$ 1 billion.
Marin’s optimism about the deal finally being sealed is based on recent decision of the 4th Civil Chamber of the Court of Justice of Rio Grande do Sul (TJ-RS) which dismissed the appeal that intended to suspend the continuity of the business. Per the original auction schedule, theContract should have been signed by March 20, 2023however several lawsuits by labor unions objected to the process. However, currently, the VP of Operations at Aegea considers the TJ-RS decision as a very important step to finally sign the agreement. “The justice of the State of Rio Grande do Sul approved the signing of the contract unanimously by the 4th panel, the three judges were unanimous in not seeing any more reasons to prevent the signature”, stresses the leader.
Marin remembers that there is still a injunction at the State Court of Auditors (TCE) which addresses the closing of the agreement. For now, this measure is an obstacle to signing the agreement, but the member of Aegea hopes that very soon, perhaps next week, there will be a manifestation from this House along the same lines as the TJ-RS, revoking the injunction. “Because the discussion is the same, the question of the company’s value”, argues Marin. O initial bid for the share control of Corsan was set at R$ 4.1 billion and Aegea won the event, as the only participant, with1.15% premium.

Source link

Leave a Reply