Nelson Tanure, alongside Sabesp and XP, has successfully negotiated an agreement to settle a legal dispute involving the Metropolitan Company of Water and Energy (Emae). This agreement arises from a lawsuit initiated over debt guarantees that ultimately led to the sale of Emae last year. According to the petition submitted to the 1st Business Court of the Central Forum of São Paulo, the parties indicated they arrived at a 'friendly composition' to resolve the ongoing litigation.

The lawsuit was initiated by Phoenix Fund, which purchased Emae from the São Paulo government in 2024 for over R$ 1 billion. The conflict centered around the premature enforcement of debts that resulted in Tanure losing control of Emae to Sabesp. At the time of the agreement, in 2024, Phoenix, which has connections to Tanure and businessman Tercio Borlenghi, issued debentures amounting to R$ 520 million as part of the transaction, with financial backing provided by XP and Vórtx DTVM.

Neither Tanure nor Sabesp have provided comments regarding the settlement, and XP has also remained silent on the matter. This development underscores the complex financial and legal landscape surrounding public utilities in Brazil, particularly in relation to ownership changes and debt management in the context of infrastructure investment.