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Companhia de Saneamento do Paraná – SANEPAR Follow-On Equity Offering

Davis Polk advised the joint bookrunners in connection with the secondary, follow-on offering by the selling shareholders of a total of 18,846,177 units of Companhia de Saneamento do Paraná – SANEPAR for an aggregate amount of approximately R$1.04 billion (approximately $315.7 million). Each unit is evidenced by a certificado de depósito de ações that represents one outstanding ação ordinária (common share) and four outstanding ações preferenciais (preferred shares) of SANEPAR. The units trade on the São Paulo Stock Exchange. The units sold in the international offering were placed under Rule 144A and Regulation S.

SANEPAR is one of the largest basic sanitation companies in Brazil in terms of net operating revenue. It supplies water in 345 municipalities through approximately 52.4 thousand kilometers of piping and 3,068.2 million water connections, sewage collection and treatment services in 184 municipalities, all in the State of Paraná, Brazil.

The Davis Polk corporate team included Maurice Blanco and Konstantinos Papadopoulos. The tax team included Mario J. Verdolini and Liang Zhang. Members of the Davis Polk team are based in the São Paulo and New York offices.