Brazil’s Biggest Water Deal: Sabesp Circles Copasa

2026-03-17 - 20:40

Key Points — Sabesp CEO Carlos Piani confirmed interest in acquiring Copasa during the Q4 2025 earnings call, calling it Brazil’s second-largest listed sanitation company and a natural target for inorganic growth — Two unresolved issues are holding Sabesp back: the Belo Horizonte concession contract — worth roughly 40% of Copasa’s revenue — and the