Embasa privatisation abandoned
- From: Vol 2, Issue 12 (December 2001)
- Category: General
- Region: Americas
- Country: Brazil
- Related Companies: Banco Bradesco, Banco Itau and Banco Santander
The Brazilian state of Bahia has called off the attempt to sell its water and sanitation company, Empresa Baiana de Águas e Saneamento Basico (Embasa). Senator Antônio Carlos Magalhães, former minister, Bahia state governor and ex-president of Brazil’s senate announced the decision last month.
Bahia was seen as more likely than any other state to succeed in privatising its water company. It has a firmly entrenched neo-liberal government in its third successive term and enjoys unrivalled influence on Brazil’s federal government. Furthermore, the state had already received a R$380 million (US$155 million) advance from the federal savings bank, Caixa Econômica ...
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