On Tuesday, September 29, 2026, Copasa (CSMG3) reported that it received a copy of a letter from Gerais Saneamento S.A. to the State of Minas Gerais notifying of the early termination of the shareholders’ agreement entered into on June 11, 2026 between the investor and the State, with the intervention and consent of the company.
According to the company, on the previous day an Extraordinary General Meeting was held that approved an amendment to the bylaws to grant the golden share, under the terms of article 18 of the Brazilian Corporations Law, the right to elect, in a separate vote, one member of the board of directors and one member of the fiscal council and their alternate, both of whom may be removed only by the holder of the golden share, in addition to including rules for any changes to the advantages of this special share.
With the holding of the meeting on September 28, 2026 and the lapse of the 90-day period counted from the signing of the agreement on June 11, 2026, Copasa states that the conditions set forth in clause 7.2 of the document were met, allowing the early termination to take immediate effect, with all provisions of the agreement losing validity and effectiveness, except for what is set out in clause 7.3.
The company further clarifies that, pursuant to clause 7.3.1 of the shareholders’ agreement, the early termination does not affect the provisions of Copasa’s bylaws nor the obligations assumed by Gerais Saneamento in the other documents related to the secondary public offering of shares carried out in the context of the company’s privatization process.
