Sabesp - Material Fact
Rhea-AI Summary
Sabesp has submitted a Commercial Proposal alongside Iguá Saneamento S.A. for Public Competition 09/2020, organized by the Infrastructure Secretariat of Alagoas. This proposal aims to secure a concession for water and sewage services in the Maceió metropolitan region. The outcome of the competition is anticipated to be announced on September 30, 2020. Sabesp commits to keeping shareholders informed about further developments related to this initiative.
AI-generated analysis. Not financial advice.
Positive
- Participation in a significant public competition for water and sewage services in Maceió, potentially expanding service reach.
- Collaboration with Iguá Saneamento S.A., leveraging combined expertise and resources.
Negative
- None.
News Market Reaction – SBS
On the day this news was published, SBS declined 4.94%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SÃO PAULO, Sept. 25, 2020 /PRNewswire/ -- Companhia de Saneamento Básico do Estado de São Paulo – Sabesp ("Company" or "Sabesp"), pursuant to article 157, paragraph 4 of Law 6,404/76 and CVM Instruction 358/02, hereby informs its shareholders and the market in general that, together with Iguá Saneamento S.A., the majority leader of the consortium, filed a Commercial Proposal related to Public Competition 09/2020, carried out by the state of Alagoas, through the Infrastructure Secretariat, whose purpose is the concession of provision of water and sewage services in Maceió metropolitan region.
The result of this Competition is expected to be published on September 30.
The Company will keep the market informed of any developments on the subject matter of this Material Fact.
IR Contacts:
Mario Arruda Sampaio – (55 11) 3388-8664 (maasampaio@sabesp.com.br)
Angela Beatriz Airoldi – (55 11) 3388-8793 (abairoldi@sabesp.com.br)
View original content:http://www.prnewswire.com/news-releases/sabesp--material-fact-301138485.html
SOURCE Sabesp