December 20, 2022

Tauil & Chequer Advogados advises Aegea on the privatization of Corsan for approximately R$ 4.1 billion

Tauil & Chequer Advogados in association with Mayer Brown advised Aegea on the privatization of Companhia Riograndense de Saneamento (Corsan), a mixed economy company of the State of Rio Grande do Sul, responsible for the water and sewage services of Rio Grande do Sul’s municipalities. This was the first privatization of a state-owned sanitation company since the passing of the New Basic Sanitation Framework in 2020.

The Firm's work included advising Aegea in all phases of the auction, including the legal due diligence of Corsan and the preparation of documents for participation in the auction.

Originally, the project was to be carried out through a primary public offering on the stock exchange. However, due to the complexity of the model, the State of Rio Grande do Sul opted to sell the shares in a "closed-door" operation, which required a multidisciplinary approach from the firm.

The team was led by partner Bruno Werneck and included the participation of associates Juliana Deguirmendjian and Maria Cristina Oliveira, from the Infrastructure and Public Law practice, and Maria Isabel Amato, Sarah Ferreira, Grazielle Pereira, from the Corporate & Securities department.

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