Brazilian power company Equatorial BMFBOVESPA:EQTL3 has submitted a proposal to become the lead investor in the privatization process for state-run sanitation company Copasa BMFBOVESPA:CSMG3, newspaper Valor Economico reported on Monday, citing sources.
The competitive process will select a reference shareholder to acquire a 30% stake in Copasa, being sold by the Brazilian state of Minas Gerais.