The Bank of Brasilia (BRB) declared that it had concluded a cancellation relating to the operation which provided for the sale of 49% of the share capital of Financeira BRB to the group of investors formed by CPSB Patrimonial, André Luís Vieira Azin and José Ricardo Lemos Rezek.
According to BRB, the cancellation results from a consensual decision of the parties not to continue negotiations with the Central Bank, leading to the end of the stake sale operation.
“BRB reaffirms its commitment to transparency, compliance with applicable regulations and the adequate provision of information to the market, and will keep its shareholders and investors informed of any relevant facts relating to the subject,” the bank states.
The sale of the 49% stake in the financial company had been announced in 2024, for BRL 320 million. However, according to the Value As shown in April, the negotiations between BRB and Master began to generate difficulties in the operation. Some partners of the investor group have reportedly decided to cancel the agreement with BRB.
When BRB carried out the process of selecting a partner for its subsidiary, it was established that the financial company would guarantee up to 8 billion reais in financing for the operation. The refusal of the BC to operate with Master and the BRB having to face potential problems in the wallets purchased from the bank of Daniel Vorcaro, compromised this project with the financial company.
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