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Brazil Water Firms Trudge Toward Consolidation
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.