Corsan outlines IPO alternative

Corsan outlines IPO alternative

Corporate & Sovereign Strategy Equity M&A Brazil Capital Markets IPO Water & Sewage Project & Infrastructure Finance

Rio Grande do Sul state water company Corsan said Wednesday that it abandoned plans for an initial public offering (IPO) but maintained that privatization is still on the cards through a share auction by the end of the year. "[C]onsidering... the challenging situation for public offerings in Brazil's capital market, the controlling shareholder has demanded the restructuring of the privatization project, including the perspective of selling the entirety of Corsan shares owned by the state," the c

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