Justice released the purchase of Banco Master by BRB (Bank of Brasilia) This Friday (9), after Judge João Egmont Leoncio Lopes of the Federal District Court (TJDF), suspend the injunction that prevented the signing of the contract.
The judge stressed that the purchase of the Master Bank by the Bank of Brasilia still depends on the approval of the Central Bank and the Administrative Council for Economic Defense (Cade) and, therefore, there is no urgency that justifies an injunction to block the business.
With this, the judge overturned the decision of Judge Carlos Fernando Fecchio dos Santos, of the 1st Public Finance Court, which prohibited the conclusion of the sale.
In March this year, BRB announced its intention to buy Banco Master for $ 2 billion. BRB would have 58% of total capital and 49% of the master’s common shares.
*With information from Agência Brasil
