The Government of Rio de Janeiro, led by Governor Wilson José Witzel, is preparing the privatization of the Companhia Estadual de Águas e Esgotos (Cedae), the State’s public water supply and sanitation company, reports Money Times.
The privatization of Cedae would be through an initial offer of shares (IPO) on the Stock Exchange, according to an official statement released last week.
The statement also said that the operation could occur “in the coming months”.
Founded in 1975, Cedae handles the collection, treatment, supply and distribution of the city’s water networks, as well as collecting, transporting and treating the wastewater of all municipalities of the State of Rio de Janeiro.
According to the latest available figures, Cedae’s net income grew 197,5% in 2018, reaching R$ 832.4 million.