UPDATE 1-Brazil's Equatorial confirmed as lone bidder for strategic role in Sabesp's privatization
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Adds details in paragraphs 2-5
SAO PAULO, June 28 (Reuters) - Brazilian power company Equatorial EQTL3.SA was the only bidder for a strategic role in water utility Sabesp SBSP3.SA, which is undergoing a privatization process, officials from the Sao Paulo state government said on Friday.
Equatorial offered 67 reais ($11.98) per share under the bid, which amounts to some 6.87 billion reais for the full 15% strategic investor stake, Sabesp said in a securities filing on Friday.
Equatorial is now the lone finalist to be Sabesp's strategic investor, but the process' results will only be officially disclosed on July 16.
Reuters had reported Equatorial's bid to be Sabesp's strategic investor on Wednesday, citing a source. According to the source, another firm that had been interested in the privatization deal, sanitation company Aegea, ultimately withdrew its offer due to a "poison pill" included in the deal to prevent the risk of a hostile takeover.
Brazil's Sao Paulo state will privatize Sabesp through an unusual two-part share offer , maintaining a non-controlling stake. Under that process, now that Equatorial was selected as finalist for strategic investor, it will open a separate price book for the overall market to join.
($1 = 5.5930 reais)
(Reporting by Luana Maria Benedito; Editing by Brendan O'Boyle)
((LuanaMaria.Benedito@thomsonreuters.com; +551156447723;))