SAO PAULO, Dec 6 (Reuters) - Lawmakers from the Brazilian state of Sao Paulo passed a bill on Wednesday permitting the privatization of state-controlled water and sanitation utility Sabesp.
The green light takes Sabesp, which operates in the country's most populous state, one step closer to being handed over to private control.
The privatization would rely on various factors, such as the renewal of concession contracts with the cities served by Sabesp and the establishment of a post-privatization corporate governance structure, as outlined by the state government.
Sabesp's privatization should be complete by July 2024, the Sao Paulo state government said.
Sao Paulo state, which has a 50.3% stake in the company, said earlier this year it intends to privatize Sabesp through a share sale while holding onto a to-be-determined minority stake. (Reporting by Andre Romani and Patricia Vilas Boas)
