Equatorial Secures 30% Stake in Copasa Privatization Deal

The government of Minas Gerais launched the share sale in May, targeting a reduction of its control over the utility firm that provides sanitation services to 12 million residents. Equatorial secured the interest by bidding 49.03 reais per share, a 3.8% premium over the government’s established floor price. The acquisition proceeded after a competing group led by Aegea exited the bidding process.

Currently, the state holds slightly more than 50% of Copasa’s equity. A second phase of the offering is scheduled for June 11, which could elevate Equatorial's total stake to 42.6%. This investment mirrors the company's aggressive expansion strategy, following its significant entry into Sao Paulo’s Sabesp earlier this year.