July 20, 2017 / 4:35 PM / in 3 months

No model for sale of Cedae set with BNDES, Rio governor says

SAO PAULO (Reuters) - There is no model for the sale of Rio de Janeiro state’s water and sewage utility Cia Estadual de Águas e Esgotos SA defined with state development bank BNDES [BNDES.UL], Rio Governor Luiz Fernando Pezão said on Thursday.

Reuters reported on Wednesday that BNDES would acquire the control of Cedae, as the utility is known, for 3 billion reais ($957 million) and then resell it. In a news conference, Pezão said the state government is discussing a loan of 3.5 billion reais with BNDES.

Reporting by Bruno Federowski

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