SAO PAULO, Sept. 29, 2015 /PRNewswire/ -- Companhia
de Saneamento Basico do Estado de Sao
Paulo - SABESP (BM&FBovespa: SBSP3; NYSE: SBS),
pursuant to CVM Instruction 358 of January
3, 2002, Companhia de Saneamento Basico do Estado de
Sao Paulo - SABESP ("Company" or
"SABESP") hereby announces that, on this date, signed a 30-year
Water and Sewage Service Contract with the Municipality of Santos,
the third largest municipality operated by the Company.
The main highlights of the negotiation are:
- Agreement to settle the municipality's debt with Sabesp;
- Share of ICMS tax as guarantee for receivables from service
provided to municipal owned properties;
- Commitment to invest approximately R$450
million in Santos;
- Transfer of funds to the municipality, in order to execute
investments in environmental sanitation and infrastructure works in
the city. The funds will be transferred in the following way:
i. R$130 million, in five
annual installments; and
ii. 0.53% of the revenue obtained
by the Company by proving service in Santos, net of Cofins and
Pasep taxes, to be transferred on a quarterly basis and for the
duration of the agreement.
IR Contacts:
Mario Arruda
Sampaio: (55 11) 3388-8664 (maasampaio@sabesp.com.br)
Angela Beatriz Airoldi: (55 11)
3388-8793 (abairoldi@sabesp.com.br)
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SOURCE SABESP