Sabesp requested CVM authorization to make a unified public offer to buy all EMAE ordinary shares it does not yet own. The company already controls 79.31% of EMAE and wants to incorporate the company as a wholly-owned subsidiary.
EMAE was privatized in 2024, purchased by a vehicle controlled by businessman Nelson Tanure for R$ 1 billion, but later came under Sabesp's control following financial problems related to debenture payments. Sabesp currently holds a 79.31% stake in EMAE and seeks to acquire all remaining shares to convert the company into a wholly-owned subsidiary, simplifying the corporate structure.
What the sources say
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Sabesp proposed to buy the remaining EMAE shares for R$ 61.83 per share
Sabesp requested CVM authorization to unify two types of public offers
The price corresponds to 100% of the amount paid by Sabesp in acquiring control of EMAE
Sabesp announced it will study the feasibility of incorporating EMAE shares
Unconfirmed exclusive
1 source
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Sabesp had previously proposed R$ 49.46 per share for the control transfer offer
⚠ only one source — exclusive, unconfirmed
Date of Sabesp's acquisition of EMAE control