1 month ago
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Reuters
Tue, April 21, 2026 astatine 9:25 AM CDT 1 min read
April 21 (Reuters) - Banco de Brasilia (BRB) has signed a memorandum of knowing with Quadra Capital to make an concern fund aimed astatine transferring assets linked to transactions BRB received from Banco Master, with a notation worth of 15 cardinal reais ($2.9 billion).
The agreement volition assistance BRB divest the assets successful bid to fortify its superior operation and liquidity, according to the MoU, which was released precocious connected Monday.
Between 3 cardinal and 4 cardinal reais are expected to beryllium paid successful cash, portion the remainder would beryllium converted into subordinated shares of the concern money to be created to negociate and monetize the assets, the papers said.
On April 16, Brazilian national constabulary arrested erstwhile BRB main enforcement Paulo Henrique Costa on suspicion of negotiating the receipt of 146 cardinal reais in bribes successful a transgression strategy to payment Banco Master.
The apprehension is portion of the 4th signifier of Operation Zero Compliance, which began successful November past twelvemonth with an probe involving Banco Master and its proprietor Daniel Vorcaro, who is presently successful custody.
Banco Master was liquidated by Brazil’s central slope successful the aforesaid month. At the time, Costa was removed from his station astatine BRB by tribunal order. Costa's lawyer Cleber Lopes has said the defence remains steadfast successful its content that his lawsuit did not perpetrate immoderate crime.
Completion of the transaction betwixt BRB and Quadra Capital is subject to conditions acceptable retired successful the memorandum being met, the papers added.
(Reporting by Tiago Brandao; penning by Oliver Griffin; Editing by Kirsten Donovan)
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