SÃO PAULO – The Marco Zero consortium, formed by the subsidiary of Equatorial ([ativo-EQTL3]) was the winner of the sanitation concession auction in the state of Amapá, held this Thursday (2) at B3.
The winner of the competition is committed to promoting the supply of water, in addition to the collection and treatment of sewage, for 738,000 inhabitants in urban areas of all 16 municipalities in the State of Amapá.
The forecast is for investments in infrastructure to be in the order of R$ 3 billion during the 35-year contract.
The winning consortium was formed by Equatorial Participações e Investimentos III, as the leading consortium and with an 80% stake, and by SAM Ambiental e Engenharia, which holds the remaining 20% stake in the consortium.
The winning proposal proposed a discount in relation to the 20% reference tariff and a grant value in the amount of approximately R$930 million.
Equatorial informed the market that, under the terms of the notice, the granting of the concession is subject to compliance with certain conditions and formalities, which include the award of the object of the auction, proof of subscription and payment of the Company’s share capital Specific (SPE), in the amount of R$ 50 million, and proof of payment of 100% of the concession fee, among other formalities.
“The concession marks the company’s entry into the sanitation segment and represents an important step in the group’s growth strategy in the infrastructure sector, always seeking discipline in the allocation of capital. Equatorial’s management model based on a culture of ownership, alignment of the entire chain to results, and operational excellence has already brought great results in the electricity sector and will now be implemented in this new segment”, highlights Equatorial in a statement.
In Credit Suisse’s assessment, the asset is of good quality and marks Equatorial’s move to obtain sanitation’s first asset. However, it highlights the high payment of the concession fee. Thus, the house’s analysts see that the market will welcome new growth alternatives, but it will certainly demand more details about the figures presented.
At 4:37 pm (Brasilia time), the EQTL3 asset dropped 1.10%, to R$ 26.02, on a very negative day for the Ibovespa, which dropped 2.4%.
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