Compesa shares to go on sale

BRAZIL’S FEDERAL SAVINGS BANK, Caixa Econômica Federal (CEF), is to put its 30% stake in Pernambuco state water company, Companhia de Saneamento de Pernambuco (Compesa), up for sale.

CEF received the shares in exchange for a R$138 million (US$60 million) cash advance on Compesa’s privatisation. This did not take place as planned in 2001 hence the proposed share sale, which should take place by July of this year.

The Pernambuco state government is understood not to be interested in buying back the shares, being content ...

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