Meteorologia

  • 17 MAIO 2024
Tempo
17º
MIN 12º MÁX 21º

São Paulo State sells energy company for 187.3 million euros

The Brazilian state of São Paulo sold today the Empresa Metropolitana de Águas e Energia (EMAE) for about one billion reais (187.3 million euros) in an auction won by the private investment fund Phoenix.

São Paulo State sells energy company for 187.3 million euros
Notícias ao Minuto

23:27 - 19/04/24 por Lusa

Economia Brasil

Phoenix offered 70.65 reais per share (12.7 euros), an amount 33.68% above the minimum price set by the local authorities.

The fund outbid the French electricity company EDF and the Brazilian Matrix Energia, which set their offers at 70.31 reais (12.6 euros) and 59.20 (10.6 euros) reais per share, respectively.

The governor of São Paulo, Tarcísio de Freitas, assessed that the auction had an extraordinary result that demonstrates, according to him, the company's potential to produce more energy.

EMAE operates four hydroelectric plants and produces energy in the metropolitan region of São Paulo, the largest city in South America, and has an energy capacity equivalent to the needs of 825,000 homes.

The company also controls the level of the Pinheiros River that crosses the city and stores water for public supply in two neighboring dams that cover 30% of the population's water needs.

Read Also: Brazil investigates the disappearance of 26 weapons at a base in São Paulo (Portuguese version)

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