Sabesp sets Oct. 27 to complete its Emae merger

Companhia de Saneamento Básico do Estado de São Paulo, known as Sabesp, updated on Oct. 8 the timeline for the merger of shares of Empresa Metropolitana de Águas e Energia, known as Emae. The corporate reorganization was previously approved by shareholders of both companies.

Under the joint material fact, Emae shareholders have until Oct. 19 to exercise their withdrawal rights. Investors who decide to exit will receive their reimbursement on Oct. 21.

Emae shares will have their final trading day on the B3 exchange on Oct. 23. On Oct. 27, Sabesp plans to release a material fact confirming the completion of the merger. Sabesp will also credit its common shares to remaining Emae shareholders on that date.

The transaction involves Sabesp absorbing all shares of Emae that the water and sanitation company does not already hold. In exchange, Emae investors will receive common shares of Sabesp.