Courts rule in Sanepar control case
- From: Vol 8, Issue 11 (November 2007)
- Category: General
- Region: Americas
- Country: Brazil
- Related Companies: Andrade Gutierrez, Dominó Holdings, Opportunity Daleth, Sanedo and Veolia
The ceding of strategic control in Sanepar to a Veolia-led consortium in 1998 has finally been declared illegal. It could spark a re-shuffle of the Dominó consortium.
On 1st November, Brazil’s courts definitively ruled that the ceding of control in Sanepar to a minority private shareholder in 1998 was illegal. Dominó Holdings was awarded strategic control of Sanepar’s board in 1998 by the former state government, after buying a 39.71% stake in the company at public auction.
Dominó’s control was suspended in 1999 ...
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