On 2 April 2016, the Justice Department for the State of Rio de Janeiro initiated a second auction in attempts to sell off Grupo Galvão assets as part of pre-bankruptcy proceedings. The assets include CAB Ambiental, Brazil’s third largest private water concessionaire present in six states serving over 6 million people concentrated in São Paulo and Mato Grosso. The ownership transfer of CAB Ambiental forms part of Brazil’s ongoing market restructuring.
Brazil Water Firms Trudge Toward Consolidation:
- AEGEA emerging as lead consolidator through M&A, new bids
- Market awaits plan for Odebrecht Ambiental
- International players parked in ‘wait and see’ mode for Brazil water assets