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Sabesp Files Mandatory Tender Offer for Remaining EMAE Common Shares After Control Acquisition

Story Highlights
  • Sabesp, São Paulo’s state sanitation utility, has moved to consolidate its control of EMAE following the January 21, 2026 closing of a majority-stake acquisition.
  • On February 2, 2026, Sabesp filed to launch a mandatory tender offer for up to 3.7 million EMAE common shares at R$49.46 each, giving minority holders an exit aligned with Brazilian control-sale rules.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Sabesp Files Mandatory Tender Offer for Remaining EMAE Common Shares After Control Acquisition

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An update from Companhia De Saneamento ( (SBS) ) is now available.

On February 2, 2026, Sabesp announced that, following its January 21, 2026 closing of the acquisition of control of Empresa Metropolitana de Águas e Energia S.A. (EMAE), it has filed with the Brazilian Securities and Exchange Commission (CVM) a request to register a mandatory public tender offer for up to all remaining EMAE common shares not already held by Sabesp or in treasury. The tender will cover up to 3,695,800 EMAE common shares, representing 10.0% of EMAE’s total capital and 25.13% of its voting capital, at a price of R$49.46 per share—equal to 80% of the R$61.83 per-share amount paid in the control acquisition, which totaled R$682.6 million including both common and preferred shares. The offer price will be updated by the SELIC rate from January 21, 2026 until settlement, and the transaction underscores Sabesp’s move to consolidate its position in EMAE, with implications for minority shareholders who are being given an exit opportunity under Brazilian corporate control-sale rules.

The most recent analyst rating on (SBS) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Companhia De Saneamento stock, see the SBS Stock Forecast page.

Spark’s Take on SBS Stock

According to Spark, TipRanks’ AI Analyst, SBS is a Outperform.

The overall stock score is driven by strong financial performance and positive technical indicators. The company’s stable balance sheet and robust cash flow generation are significant strengths. While valuation is reasonable, the recent decline in revenue growth is a concern that needs addressing to sustain long-term growth.

To see Spark’s full report on SBS stock, click here.

More about Companhia De Saneamento

Companhia de Saneamento Básico do Estado de São Paulo (Sabesp) is the basic sanitation utility for the State of São Paulo, Brazil, providing water supply, sewage collection and treatment services. As a publicly held company, it operates one of the largest sanitation systems in Latin America, serving residential, commercial and industrial customers across the state and playing a key role in regional infrastructure and public services.

Average Trading Volume: 1,201,703

Technical Sentiment Signal: Buy

Current Market Cap: $18.89B

For an in-depth examination of SBS stock, go to TipRanks’ Overview page.

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