Brazil Privatizes Rio’s Waterworks, Earning Over $4.2 Billion
- Auction of utility symbolic win for Bolsonaro administration
- Government under fire for handling of coronavirus outbreak
A Companhia Estadual de Aguas e Esgotos (CEDAE) water facility in Rio de Janeiro.
Photographer: Dado Galdieri/BloombergThis article is for subscribers only.
Brazil auctioned off $4.2 billion worth of assets from the waterworks that serve the state of Rio de Janeiro, notching a symbolic victory for the embattled reform agenda of President Jair Bolsonaro.
Bolsonaro personally attended the auction held at Sao Paulo’s stock exchange with Economy Minister Paulo Guedes, who hailed the sale as a vote of confidence by investors.