Court overturns injunction and authorizes BRB to purchase Master

The Court authorized the purchase of Banco Master by BRB (Banco de Brasília) this Friday (9), after judge João Egmont Leoncio Lopes, of the Federal District Court of Justice (TJDF), suspended the injunction that prevented the signing of the contract.

The judge highlighted that the purchase of Banco Master by Banco de Brasília 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 deal.

With this, the judge overturned the decision of judge Carlos Fernando Fecchio dos Santos, of the 1st Public Treasury Court, which prohibited the completion of the sale.

In March of this year, BRB announced its intention to purchase Banco Master for R$2 billion. BRB would hold 58% of the total capital and 49% of Master's common shares.