🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Brookfield's BRK wins $354 million sanitation auction in Brazil's Maceio

Published 2020-09-30, 11:24 a/m
© Reuters.
BN
-

By Alberto Alerigi

SAO PAULO, Sept 30 (Reuters) - Brazilian sanitation company BRK Ambiental, controlled by Canada's Brookfield Asset Management Inc BAMa.TO , on Wednesday won an auction to run water and sewage services in the northeastern city of Maceio with a 2 billion reais ($354 million) bid.

While 89% of Maceio's 1.5 million inhabitants have access to water services, only 27% of residents have sewage services. BRK must increase their reach, according to the concession rules.

This auction is the first public-private partnership reached after Brazil approved new rules for the sanitation sector in July. The contract is for 35 years. Garrido de Barros, BRK's chief financial officer, told journalists that the company plans to participate in new sanitation auctions.

Brookfield holds a 70% stake in BRK, while Brazil's workers' severance fund FI-FGTS has the remaining part.

($1 = 5.65 reais)

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Brazil's sanitation sector expected to receive $110 bln in investments, says economy minister

Brazil lawmakers approve new sanitation bill, opening room to privatizations

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.