Central Bank determines extrajudicial liquidation of Banco Master

The Legislative Chamber of the Federal District had also passed a law authorizing the purchase – a proposal swiftly approved and sanctioned by the Governor of the Federal District, Ibaneis Rocha, a supporter of the transaction. Announced in March, the agreement between the banks outlined that BRB, a capital society majority-controlled by the government of the Federal District, would acquire 49% of ordinary shares, 100% of preference shares, and 58% of Master’s total capital.