Federal Government publishes rules for the privatization of CODESAJun, 10, 2021 Posted by Ruth Hollard
On Wednesday, June 9, the Federal Official Gazette (DOU) published CPPI Resolution No. 188, of June 7, 2021, which approves the modeling and privatization conditions of Companhia Docas do Espírito Santo (CODESA). With the publication of the resolution, the expectation is that the auction will take place in the fourth quarter of this year and generate investments of R$ 1 billion.
Signed by the Minister of Infrastructure, Tarcísio Gomes de Freitas, and Minister of the Economy, Paulo Guedes, the resolution provides that the privatization will take place “through the sale of all the shares held by the federal government in the share capital of CODESA”, which is responsible for the administration of the state-run ports of Vitória and Barra do Riacho in Espírito Santo.
The concession contract will be valid for 35 years, renewable for another five years, at the discretion of the granting authority, and for a single term. Its object encompasses the administration of the port and the indirect exploration of the facilities of the state-owned ports of Vitória and Barra do Riacho. The resolution prohibits the direct development of the structures.
Before signing the concession contract, the chosen company will have to pay the amount offered in the concession auction to be promoted by the Federal Government and in which it won. The winner is whoever offers the highest grant value.
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