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Sao Paulo to work with World Bank to study privatizing Sabesp

  • Sao Paulo to work with World Bank to study privatizing Sabesp

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Governor of Sao Paulo, Tarcisio de Freitas, announced on Friday that the state government will appoint the World Bank’s International Finance Corporation (IFC) to study the possible privatization of Sabesp, a water and waste management company owned by the state of Sao Paulo.

"The privatization of Sabesp is a very complex matter," Tarcisio said to Reuters after attending an event in Rio de Janeiro.

Sabesp will only be privatized, said Freitas, if “we reach the conclusion that we are going to increase efficiency, have upsides, reduce tariffs.”

He added: "I think that all these objectives are possible, and I understand that studies will show this."

The possible privatization would take place next year, in 2024, and Freitas said that it would be similar to that of Eletrobras in 2022, with the sale of shares via a public offering, representing the sale of part of the government's stake in the company.

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