Madrona advised Sabesp on the acquisition of companies
Madrona Advogados advised Companhia de Saneamento Básico do Estado de São Paulo (Sabesp) on the acquisition of 70% of the share capital of each of the companies Águas de Andradina and Águas de Castilho which, when added to the equity interests currently held by Sabesp in Andradina and Castilho, will result in the ownership of 100% of the share capital of both companies.
The transaction results from Sabesp’s exercise of its preemptive right, as offered by Iguá, pursuant to the shareholders’ agreements of Andradina and Castilho, to which the Companies are parties.
The completion of the Transaction is subject to the fulfillment of certain customary precedent conditions for this type of transaction, including its approval by the Brazilian Antitrust Authority (Conselho Administrativo de Defesa Econômica – CADE).
The companies Andradina and Castilho are engaged in the provision of public water and sewage services and hold concession agreements for the provision of public water supply and sanitary sewage services in the cities of Andradina and Castilho, State of São Paulo. Both concession agreements are mature, with universalized services, jointly serving a population of approximately 81,891 people.
Upon completion of the transaction, Sabesp will take a further step in the consistent advancement of its strategic plan, strengthening its presence in the water and sanitation sector in Brazil.
Madrona relied on partners Bárbara Monduzzi (pictured left), Ricardo Madrona (pictured center) and lawyer Renzo Lima.
Sabesp’s in-house lawyer: Juliana Kolonko Ferrara Freitas.
Pinheiro Neto advised the sellers and relied on partner Gustavo Crêdo (pictured right), associate Amanda Della Togna Torres and trainee Giulia Bortoleto de Iudicibus.
