On Tuesday, a consortium led by Aegea, the largest private sanitation company in Brazil, placed the winning bid in an auction for the privatization of the Brazilian water company Companhia Riograndense de Saneamento (Corsan) that provides water and wastewater services for the southern state of Rio Grande.
Reuters reported that Aegea, backed by Singapore sovereign wealth fund GIC and Itausa SA, offered 4.15 billion reais ($784.22 million) for Corsan, a premium of 1.15% over the minimum bid. ($1 = 5.2919 reais).
In 2021, Aegea Saneamento announced Itaúsa as a new strategic investor. With an initial contribution of R$ 1.33 billion, Itaúsa, a Brazil-based investment holding company, became the owner of a 10.20% equity interest in Aegea.
