July 19, 2017 / 9:25 PM / a year ago

Brazil development bank to buy Rio sanitation company, privatize it -source

BRASILIA, July 19 (Reuters) - Brazil’s government has authorized the state development bank BNDES to acquire the control of Rio de Janeiro state’s sanitation company Cedae for 3 billion reais ($953 million), a person with direct knowledge of the matter said on Wednesday.

After acquiring control of Cedae, BNDES will organize a sale process for it, the source said, asking for anonymity because the plans were still private. The agreement was first reported on Wednesday by G1, the portal for the Globo TV network. ($1 = 3.1486 reais) (Reporting by Lisandra Paraguassu; Writing by Tatiana Bautzer)

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