Corsan resumes privatization process and opens virtual information room for interested parties – Rio Grande do Sul

Corsan resumes privatization process and opens virtual information room for interested parties – Rio Grande do Sul
Corsan resumes privatization process and opens virtual information room for interested parties – Rio Grande do Sul

On Tuesday night (30), Companhia Riograndense de Saneamento (Corsan) announced the resumption of the company’s privatization process. A virtual information room, also called the ‘Data Room’, was opened. In the space, investors can access files of privatization modeling, reports and information about the company. The government of Rio Grande do Sul plans to hold the auction for mid-December.




Government faces obstacles to privatizing Corsan
Photo: Corsan/Disclosure

On July 13, the government of RS suspended the privatization process after a decision by the State Court of Auditors (TCE). At the time, Governor Ranolfo Vieira Júnior stated that the process would be reformulated and the share offering would be replaced by the full sale of the company – the same model used in the process of Sulgás and the State Electric Energy Company (CEEE) – which was confirmed by the Secretary of Planning, Governance and Management (SPGG) of RS this Wednesday (31). According to the folder, the project has already been sent to the TCE, which has a period of 90 days to carry out the evaluation.

Corsan sale

The Legislative Assembly approved, at the end of August of last year, the bill that allows the privatization of Corsan. Voting, which at the time, was opposed by mayors who asked for more time to debate the issue. To meet the requirements of the Sanitation Legal Framework, Corsan had to adapt and modify the obligations. Such changes indicate that municipalities have until 2033 to universalize water and sewage supply by 90%. “Percentage that is not a problem, since most are already reaching this goal”, explained the mayor of Campo Bom and former president of the Association of Municipalities of Vale dos Sinos (Amarvs), Luciano Orsi.

In November 2021, a meeting was held to sign the amendment, which changed the duration, from 2035 to 2062. The rush to sign was so that there would be time to calculate Corsan’s market value, which did not please to all. “Campo Bom was one of the cities that did not sign the contract, but after the event we signed it. However, we did not accept the deadline for 2062, we signed the amendment with the same deadline for 2035. Forty years is a long time to accept a contract” , points out Orsi.



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