21 Apr (Reuters) – The Banco de Brasília (BRB) said on Monday night that it signed a memorandum of understanding with Quadra Capital for the creation of an investment fund intended for the transfer of assets arising from operations received by BRB from Banco Master, with a reference value of .
According to the document, the operation aims to sell assets with the aim of strengthening BRB’s capital and liquidity structure.
The completion of the operation will be subject to the fulfillment of precedent conditions set out in the memorandum, he added.
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On April 16, the Federal Police arrested the former president of BRB, Paulo Henrique Costa, on suspicion of negotiating the receipt of a bribe of R$146 million in a criminal scheme to benefit Banco Master.
The arrest is part of the fourth phase of Operation Compliance Zero, which began in November last year with the investigation involving Banco Master, owned by Daniel Vorcaro, now in prison.
Banco Master was liquidated by the Central Bank in the same month. On that occasion, Paulo Henrique Costa was removed by court order from the BRB command.
(Reporting by Tiago Brandão in Gdansk; editing by Michael Susin)
