Brazilian Court Blocks BRB’s $360 Million Acquisition of Banco Master Over Legal Concerns

Brazilian Court Blocks BRB’s $360 Million Acquisition of Banco Master Over Legal Concerns

A Federal District court blocked state-owned Banco de Brasília (BRB) from finalizing its R$2 billion ($360 million) acquisition of Banco Master, citing violations of legal protocols. The ruling followed a request by local prosecutors who argued BRB failed to secure mandatory shareholder and legislative approvals before advancing the deal. While BRB claims compliance with internal […]

On this Thursday (7), the Court of Justice of the Federal and Territory District has taken a significant decision by temporarily prohibiting the signing of the purchase contract of the Bank Master by the Bank of Brazil (BRB). This decision was issued by the Court of Justice of the Federal and Territory District (TJDFT) after a request from the Ministry of Public Affairs of the Federal and Territory. The Ministry of the Public raised concerns abo…

MPDFT claims there are irregularities in the deal The post Justice blocks BRB's signature on the purchase of Banco Master appeared first on Monitor Mercantil.

The Court of Justice of the Federal District and Territories has provisionally refused that the Bank of Brazil (BRB) does not sign the definitive contract for the purchase of part of the Bank Master. The determination, taken on this Wednesday (6), however, does not prevent the BRB from continuing with the preliminary procedures of the negotiations. The decision complies with a request from the DF and Territorial Ministry of Public Affairs (MPDFT…

Judge Carlos Fernando Fecchio of the Federal District Court of Justice determined that the BRB (Banco de Brazil) is prohibited from signing the final contract for the acquisition of 58% of the Bank Master's shares. The decision follows a request from the DF Public Ministry, which opened a civil investigation to investigate... The DF's legal post blocked the sale of the BRB Master to BRB first appeared on The Antagnonist.