<SEC-DOCUMENT>0001292814-16-006741.txt : 20161125
<SEC-HEADER>0001292814-16-006741.hdr.sgml : 20161125
<ACCEPTANCE-DATETIME>20161125094005
ACCESSION NUMBER:		0001292814-16-006741
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161231
FILED AS OF DATE:		20161125
DATE AS OF CHANGE:		20161125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP
		CENTRAL INDEX KEY:			0001170858
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31317
		FILM NUMBER:		162017809

	BUSINESS ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
		BUSINESS PHONE:		011-55-11-3388-8000

	MAIL ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
</SEC-HEADER>
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<TYPE>6-K
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<FILENAME>sbs20161123_6k.htm
<DESCRIPTION>FORM 6-K
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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, DC 20549 </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORM 6-K</B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>REPORT OF FOREIGN ISSUER</B><BR><B>PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>SECURITIES EXCHANGE ACT OF 1934</B></FONT></DIV>

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<DIV><FONT color=#000000 size=2 face="Times New Roman"><B>For November 23, 2016</B></FONT></DIV><FONT color=#000000 size=2 face="Times New Roman"><B>(Commission File No. 1-31317) </B></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Exact name of registrant as specified in its charter) </I></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Basic Sanitation Company of the State of Sao Paulo - SABESP </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Translation of Registrant's name into English) </I></FONT></DIV>

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><B>Rua Costa Carvalho, 300 <BR>S&#227;o Paulo, S.P., 05429-900 <BR>Federative Republic of Brazil </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman"><I>(Address of Registrant's principal executive offices) </I></FONT></DIV><BR>

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark whether the registrant files or will file <BR>annual reports under cover Form 20-F or Form 40-F. <BR><BR>Form 20-F ___X___ Form 40-F ______</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(1)__.</FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K <BR>in paper as permitted by Regulation S-T Rule 101(b)(7)__.</FONT></DIV>

<P></P>

<P align=center><FONT size=2 face="'Times New Roman, Times, Serif'">Indicate by check mark whether the registrant by furnishing the <BR>information contained in this Form is also thereby furnishing the <BR>information to the Commission pursuant to Rule 12g3-2(b) under <BR>the Securities Exchange Act of 1934. <BR><BR>Yes ______ No ___X___</FONT></P>

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<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">If "Yes" is marked, indicated below the file number assigned to the<BR>registrant in connection with Rule 12g3-2(b):</FONT> </DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo</FONT></FONT><FONT face=verdana,sans-serif></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Board of Directors</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif><BR clear=all></FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="times new roman">&nbsp;</FONT></P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 3.95pt 0pt 0cm" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=verdana,sans-serif>COMPANHIA DE SANEAMENTO B&#193;SICO DO ESTADO DE S&#195;O PAULO &#8211; SABESP</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 3.95pt 0pt 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Corporate Taxpayer&#8217;s ID (CNPJ): 43.776.517/0001-80</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 3.95pt 0pt 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Company Registry (NIRE): 35.3000/1683-1</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 3.95pt 0pt 0cm; LINE-HEIGHT: 150%" align=center><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 3.95pt 0pt 0cm; LINE-HEIGHT: 150%" align=center><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>EXCERPT OF THE EIGHT HUNDRED AND THIRTY-THIRD BOARD OF DIRECTORS&#8217; MEETING </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 3.95pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>The undersigned members of the Board of Directors of Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo &#8211; SABESP listed below met at the meeting room at the Company&#8217;s headquarters, at Rua Costa Carvalho n&#176; 300, S&#227;o Paulo, at 2:00 p.m. on November 10, 2016, at the call of the Chairman of the Board of Directors, Benedito Pinto Ferreira Braga Junior, on an ordinary basis, pursuant to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>caput</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif> of article 12 of the Company&#8217;s Bylaws.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 3.95pt 6pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" color=black face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=verdana,sans-serif>(...)</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 3.95pt 3pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" color=black face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=verdana,sans-serif>Following the agenda, Mr. Benedito Braga handed the floor to the Chief Financial and Investor Relations Officer, Rui de Britto &#193;lvares Affonso, who, together with the Accounting Supervisor,&nbsp; Marcelo Miyagui, the Controllership Supervisor, Agnaldo Pacheco Sampaio, the Funding and Investor Relations Supervisor, Mario A. de Arruda Sampaio, the Legal Supervisor, Tales Jos&#233; B. Bronzato, and the Institutional Legal Counsel Manager, Elizabeth Melek Tavares,</FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=verdana,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=verdana,sans-serif>presented </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=verdana,sans-serif>item 3</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=verdana,sans-serif> on the agenda</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif> &#8220;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>Execution of a Private Transaction Agreement and Other Adjustments between SABESP and EMAE</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>&#8221; (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=Arial,sans-serif>time:</FONT></I><FONT style="LINE-HEIGHT: 150%" color=black face=verdana,sans-serif><I><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=verdana,sans-serif> 60&#8217;)</FONT></I></FONT><FONT style="LINE-HEIGHT: 150%" color=black face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=verdana,sans-serif>,</FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif> based on documents filed in the meeting&#8217;s electronic folder (...). The purpose of this transaction is to settle the following litigation between Sabesp and EMAE in an amicable and consensual manner:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0cm 36pt; LINE-HEIGHT: 150%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>(a)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Action Requesting Arbitral Submission (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>A&#231;&#227;o de Institui&#231;&#227;o de Compromisso Arbitral</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>) &#8211; Case no. 0064069-18.2012.8.26.0100, currently being examined by the 5<SUP>th</SUP> Lower Civil Court of the Central Jurisdiction of S&#227;o Paulo (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>5&#170; Vara C&#237;vel do Foro Central da Comarca de S&#227;o Paulo)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>, currently on appeal, commenced by EMAE in order to settle the dispute through arbitration; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0cm 36pt; LINE-HEIGHT: 150%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>(b)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Arbitration Proceedings (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Procedimento Arbitral</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>) &#8211; Case no. 069/2013, currently being examined by the Arbitration Center of the Amcham (S&#227;o Paulo Chapter), initiated to request financial compensation for alleged past and future losses in the generation of electricity as a result of the water extraction and compensation for alleged costs already incurred and to be incurred with the operation, maintenance and monitoring of the Guarapiranga Reservoir; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0cm 36pt; LINE-HEIGHT: 150%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>(c)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Lawsuit (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>A&#231;&#227;o Ordin&#225;ria</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>) &#8211; Case no. 1064876-84.2013.8.26.0100, currently being examined by the 6<SUP>th</SUP> Lower Civil Court of the Central Jurisdiction of S&#227;o Paulo (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>6&#170; Vara C&#237;vel do Foro Central da Comarca de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>), filed by EMAE to request financial compensation for alleged past and future losses in the generation of electricity as a result of water extraction, and apportionment of the alleged costs already incurred and to be incurred with the operation, maintenance and monitoring of the Billings Reservoir by SABESP; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0cm 36pt; LINE-HEIGHT: 150%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>(d)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Interlocutory Injunction for Displaying Documents (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>A&#231;&#227;o Cautelar de Exibi&#231;&#227;o de Documentos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>) &#8211; Case no. 019598-24.2013.8.26.0053, filed by SABESP against EMAE at the 9<SUP>th</SUP> Public Treasury Trial Court of the Judicial District of S&#227;o Paulo (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>9.&#170; Vara da Fazenda P&#250;blica da Comarca de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>), to request the production of documents prior to the Settlement Agreement (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Termo de Acordo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>).</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo</FONT></FONT><FONT face=verdana,sans-serif></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Board of Directors</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif><BR clear=all></FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="times new roman">&nbsp;</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0pt; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Sabesp believes that the water in these reservoirs has always been public, that it cannot be considered as private and that its use for public supply cannot be indemnified.</FONT></FONT><FONT style="LINE-HEIGHT: 150%"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif> </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>However, in the recent development of litigation involving the two companies, it is noted that: i) that Sabesp&#8217;s arguments in court are not being taken into account in the arbitration proceeding with the American Chamber of Commerce in S&#227;o Paulo (Amcham); ii) that this proceeding is in the hands of a single arbitrator and an expert appointed by him; iii) that the arbitrator has made it very clear that the arbitration proceeding is limited to calculating the indemnity owed.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0pt; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>The agreement was based on the following premises:</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Arial,sans-serif> </FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>i) payments by Sabesp must not exceed the necessary amount to reimburse EMAE for the costs of maintaining and operating the Guarapiranga and Billings reservoirs, in proportion to its water abstraction from the natural flow of each of them; ii) payment should continue to be made as long as Sabesp and EMAE&#8217;s concessions remain in force, and for as long as Sabesp continues to withdraw from these reservoirs, subject to the period of prescription of the purpose of the actions; iii) Sabesp shall apply to ARSESP for these expenses to be included in the tariff review now in progress.&nbsp; The agreement establishes that Sabesp will pay EMAE the amounts established in clause 3.1: </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 6pt 36pt; LINE-HEIGHT: 150%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>(a)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>six million, six hundred and ten thousand reais (R$6,610,000.00) per year, adjusted for inflation as of the date of signature of this agreement using the IPCA or any other index that may replace it, always by the last business day of October every fiscal year, under the following conditions: (i) the first of these annual payments is due by the last business day of October 2017 and (ii) the last payment is due by the last business day of October 2042; and </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 6pt 36pt; LINE-HEIGHT: 150%; TEXT-INDENT: -18pt"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>(b)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp; </FONT></FONT><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Forty-six million, two hundred and seventy thousand reais (R$46,270,000.00), in five annual successive installments, adjusted for inflation using the IPCA or any other index that may replace it, under the following conditions: the first installment, of nine million, two hundred and fifty-four thousand reais (R$9,254,000.00), is payable on April 30, 2017, and the remaining four (4) installments of the same amount are payable every April 30, or the next business day, of the subsequent years.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 3.95pt 3pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>EMAE announced via a notice to the market that its Board of Directors, at a meeting held on November 9, 2016, approved the transaction with Sabesp, pursuant to the Private Transaction Agreement.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 3.95pt 3pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>The matter was submitted to discussion and vote and, in accordance with the terms of the Agreement, </FONT><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>the Board members unanimously approved the transaction related to the Private Transaction and Other Agreements between Sabesp and EMAE, of October 28, 2016</FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>. In accordance with Section 2, item 2.1 of the Agreement, the effectiveness of the transaction is subject to the following conditions precedent, given that it has been approved by EMAE&#8217;s Board of Directors: (i) EMAE&#8217;s Extraordinary Shareholders&#8217; Meeting; and (ii) full and unconditional approval of its terms by the Brazilian Electricity Regulatory Agency &#8211; ANEEL, pursuant to article 3, XIII of Law 9,427/1996 and article 18, I of Resolution 699, of January 26, 2016. </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo</FONT></FONT><FONT face=verdana,sans-serif></FONT></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 5.55pt 0pt 0cm" align=right><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Board of Directors</FONT></FONT><FONT face=verdana,sans-serif></FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif><BR clear=all></FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="times new roman">&nbsp;</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 3.95pt 3pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>(...)</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 3.95pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>The minutes, after approved, will be signed by the attending members of the Board of Directors: Benedito Pinto Ferreira Braga Junior, Arno Meyer, Francisco Vidal Luna, Jer&#244;nimo Antunes, Jerson Kelman, Luis Eduardo Alves de Assis and Reinaldo Guerreiro.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 3.95pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>This is a free translation of the excerpt of the minutes that will be drawn up in the book of minutes of Board of Directors&#8217; meetings.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 3.95pt 0pt 0cm; LINE-HEIGHT: 150%"><FONT style="LINE-HEIGHT: 150%" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>S&#227;o Paulo, November 18, 2016.</FONT></FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 3.95pt 0pt 0cm"><B><FONT style="FONT-SIZE: 9pt" face=verdana,sans-serif>Benedito Pinto Ferreira Braga Junior</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 3.95pt 0pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=verdana,sans-serif>Secretary of the </FONT></P>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B><U>SIGNATURE&nbsp;</U></B></FONT><FONT size=1>&nbsp;</FONT></DIV></U></B></FONT>

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<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city S&#227;o Paulo, Brazil. <BR></FONT></DIV>

<DIV align=justify><FONT color=#000000 size=3 face="Times New Roman">Date:&nbsp;November 23, 2016</FONT></DIV>

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   <DIV align=left><FONT color=#000000 size=3 face="Times New Roman"><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV></TD></TR>

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   <TD vAlign=top align=left><FONT color=#000000 size=2 face="Times New Roman">By:</FONT></TD>

   <TD vAlign=bottom align=left>/s/&nbsp;&nbsp;<FONT style="FONT-FAMILY: times new roman" size=3>Rui de Britto &#193;lvares Affonso</FONT>&nbsp;&nbsp;&nbsp;&nbsp;

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   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Name: Rui de Britto &#193;lvares Affonso </FONT></DIV>

   <DIV align=left><FONT color=#000000 size=2 face="Times New Roman">Title: Chief Financial Officer and Investor Relations Officer </FONT></DIV></TD>

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<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>

<P align=justify><FONT size=2 face="'Times New Roman, Times, Serif'">This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. </FONT></P>

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