Government Contracts and Projects
Following the publication of Law No. 16,766/2017, which has authorized the sale of the equity interest held by the Municipality of São Paulo in SPTuris, the City Hall takes the next steps towards the auction for the privatization of the Anhembi complex, which encompasses the convention center, exhibition pavilions and the so-called Sambódromo.
At the beginning of May, the Municipality signed a contract with the Brazilian investment bank Banco Plural, responsible for the entire privatization process. In addition to evaluating the market price of SPTuris’ assets and economically structuring the auction, the investment bank will also be in charge of spreading it abroad in order to attract more interested parties.
The Municipality has disclosed in advance that the sale will be comprised of a single lot, but has been avoiding talking about values before the conclusion of the financial structuring. Nevertheless, Law No. 16,766/2017 provides that all the resources obtained through the auction must be exclusively allocated to the Social Development Municipal Fund (FMD), and that at least 20% of this amount must be used for investments in the North Zone of São Paulo City.
The final project is being prepared by the Municipal Licensing Department and must comply with the rules established by the Urban Intervention Project (PIU), which, among other things, provides that the buyers of the area may build 1.68 million m² in the complex, innovating in relation to what was allowed by the City's Master Plan.
On the other hand, the agreement must grant to the Municipality the right to use the Sambódromo for 75 days per year, consecutive or not, for carnival, religious events and others, by means of lien or concession of right of use to SPTuris or its successor.
The auction is expected to be held in September this year, at B3 headquarters.
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