Aegea Saneamento signed an agreement on Tuesday (19) to acquire 100% of Ciclus Ambiental, a waste management company controlled by Simpar SA (SIMH3), according to InfoMoney.
The deal is valued at BRL 1.1 billion in equity and BRL 1.904 billion in enterprise value, factoring in BRL 804 million of Ciclus Rio’s net debt in the second quarter of 2025. Payment will be split into three installments: BRL 800 million at closing, followed by two tranches of BRL 150 million each in April 2026 and April 2027, adjusted by the CDI benchmark rate starting from August 1, 2025.
Regulatory and Strategic Conditions
The closing of the deal is subject to customary conditions, including approval from Brazil’s antitrust watchdog Cade and authorization from the granting authority. Aegea, one of the largest private sanitation companies in Brazil, intends to integrate Ciclus Ambiental into its environmental solutions platform.
Simpar (SIMH3) highlighted that the divestment is consistent with its strategy of active portfolio management and value maximization, focusing on essential economic sectors. Ciclus Rio will continue its expansion within Aegea’s broader structure.
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