Gerais Saneamento seeks early exit from Copasa pact

Gerais Saneamento, a company controlled by Equatorial and responsible for the privatisation of Copasa, announced its intention to request the early termination of its shareholders' agreement with the government of Minas Gerais. The company disclosed the move in a material fact on 25 September 2026.

The termination of the agreement, which was originally signed on 11 June 2026, will only move forward if an extraordinary general meeting approves clause 4.5 and annex 4.5. These provisions address matters covered under the original pact.

The clauses concern a golden share that gives the state of Minas Gerais the right to appoint one member to the board of directors and one member to the fiscal council. Any future attempt to modify or withdraw those rights will require authorization directly from the state.

Copasa stated that it will keep the market informed about relevant developments, including the formal confirmation of the early termination once the necessary approvals take place.