Minimum Bid for Privatization of São Paulo Anhembi Complex Fixed at R$1.45 Billion

SÃO PAULO, BRAZIL – The São Paulo City Hall has published, in the Official Gazette last week, a notice for the privatization of the Anhembi Complex, the largest event center in Latin America located in the city’s North Zone. The main change in the document concerns the fixed minimum price of R$ 1.45 billion (US$391 million). The tenders will be opened on August 16th.

According to the notice, Brazilian and foreign companies, financial institutions and Equity Investment Funds (FIPs) may participate in the process, either separately or as a joint-venture. The successful bidder will be the one offering the highest amount for the Complex.

The successful bidders will additionally be required to provide the Sambadrome area for the samba school parade during Carnaval and religious events.

The City Executive intends to revamp the Anhembi Complex, selling its stake in São Paulo Turismo (SPTuris), and generate revenue for the Municipal Social Development Fund.

The City Hall says it intends to invest these resources in priority areas, such as health, education, housing, and mobility.

The Anhembi Complex auction was suspended on May 22nd, when the Municipal Audit Court (TCM) called for clarifications on some points, including the minimum bid amount, which was R$1 billion. According to counselors, there was suspicion it was below what was expected.

On June 19th, in turn, TCM approved the auction although with a minimum bid of R$1.45 billion.

The Anhembi Complex comprises 400,000 square meters, divided among the Sambadrome, the Pavilhão de Exposições (Exhibition Pavilion) and the Palácio das Convenções (Conventions Palace). The facility has a parking lot that can accommodate 6,500 vehicles.

A legacy of former mayor João Doria (PSDB), the Anhembi privatization project was passed by the City Council on December 5th, 2017 and sanctioned 15 days later. In May 2018, councilors approved the law setting out the constructive rules for the Complex.

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