BTG Pactual said on Tuesday that it agreed to acquire assets of Master Bank controller, Daniel Vorcaro, including properties, shares and credit rights, according to a document released to the market.
According to BTG, the operation, estimated at about $ 1.5 billion, received approval from the Central Bank and the Credit Guarantee Fund (FGC).
The bank added that Vorcaro pledged to make resources available to the Master, which faces financial difficulties.
The master has grown rapidly in recent years, driven by a financing model that is based on the issuance of high -income debt securities distributed through investment platforms.
The Vorcaro -controlled bank agreed in March the sale of some of its assets to BRB.
BTG said in its statement that it is not buying any participation in the Master or its subsidiaries.
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The acquisition includes 15.2% stakes in the Light Energy Company and 8.1% in Méliuz – the latter indirectly through the assignment of investment fund quotas, according to BTG.
