Brazil’s securities regulator, the Comissão de Valores Mobiliários (CVM), has unanimously approved a minority shareholder request to postpone the Extraordinary General Meeting (EGM) of Empresa Metropolitana de Águas e Energia (EMAE, EMAE4) regarding its incorporation by Companhia de Saneamento Básico do Estado de São Paulo (Sabesp, SBSP3). The EGM, originally scheduled for July 30, was indefinitely postponed, with the delay taking effect for a minimum of 30 days starting from the date EMAE provides additional documentation to the market. Shares of Sabesp (SBSP3) dropped on the news, trading down 2.79% at R$27.48 in midday trading, outpacing the broader Ibovespa (IBOV), which was down 1.03%.