Rio draws up Cedae sale

Rio draws up Cedae sale

M&A Equity Capital Markets Economy & Policy Regulation Politics Project & Infrastructure Finance Brazil

The Rio de Janeiro state government will draft the sale of the state-owned water company Cedae in the coming months, including a possible IPO on the local stock market, according to a securities filing. Gov. Wilson Witzel said earlier this week that the state government will provide details on the sale in December, according to press reports. The state stands to earn between BRL7bn and BRL11bn, or $1.68bn to $2.64bn, from privatizing Cedae, Witzel was quoted as saying. Cedae said in July that

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