The CPPI (Council of the Investment Partnerships Program) defined this Tuesday (20) the conditions for the privatization of the Port of Santos and approved the inclusion of Emgea (Asset Management Company) in the National Privatization Program.
According to the Ministry of Economy, the modalities for the privatization of Emgea, owned by Caixa Econômica Federal, were defined. The plan provides for a spin-off of the company for a partial sale.
With the argument that it sought to simplify the process and reduce transaction costs, the ministry reported that the PPI board also reduced the amount of actions needed and the deadline to achieve this objective for Emgea.
Regarding the Port of Santos, it was established that the auction will have an initial grant of R$ 3.015 billion plus goodwill. There will also be an annual fixed contribution of R$105 million over 28 years (from the eighth year onwards), in addition to a variable contribution of 20% per year on the consolidated gross operating revenue.
According to the special secretary of the PPI, Bruno Westin, the public notice for the auction of the port will be published after the end of the analysis of documents by the TCU (Court of Accounts of the Union). He was not sure that the contest will be held in 2022.
“It has conditions to be carried out this year depending a lot on what will come from this analysis in the court of accounts”, he said.
The operation provides for a sale of the equity interest in the Port of Santos, in addition to a concession for the operations that will have a term of 35 years. Whoever offers the highest premium on the grant will win the auction.
At this Tuesday’s meeting, the board also approved the inclusion of Companhia Docas do Rio de Janeiro and Companhia Docas do Pará in the privatization program.
In both cases, the process will be structured by the BNDES (National Bank for Economic and Social Development), with no deadline for the auction.
Regarding the CBTU (Companhia Brasileira de Trens Urbanos) of Belo Horizonte, the minimum value for sale in the privatization was reduced from R$ 22.8 million to R$ 19.3 million. The auction notice should be presented next Friday, with the expectation that the auction will take place until the end of this year.
According to Westin, the government also wants to hold auctions by the end of the year in the areas of energy and projects with regional governments, such as a public-private partnership for sanitation in Ceará, a public lighting project in Curitiba (PR), national parks for tourism and the privatization of the EspÃrito Santo Gas Company.
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