Brazil approved privatization of Companhia Docas do Espírito Santo (Codesa)
The National Bank for Economic and Social Development (BNDES) along with the Ministry of Infrastructure (Minfra) issued a public notice for privatization of Companhia Docas do Espírito Santo (CODESA). The company is responsible for managing and commercially exploring the organized ports of Vitória and Barra do Riacho.
The transaction involves the sale of the dock company with the concession of the ports of Vitória and Barra do Riacho, located on the coast of Espírito Santo for a period of 35 years.
As a consideration for taking over the operation of the ports throughout the contract, the private investor must acquire CODESA shares for R$ 327 million (USD60.3 million), in addition to assuming the company's existing commitments and indebtedness.
The auction will take place on March 25th, 2022.
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