Banco de Brasilia Ends Talks to Sell Banco Master Assets
MT Newswires Live06:24
Banco de Brasilia ended talks with asset manager Quadra Capital to sell 15 billion reais ($2.9 billion) of assets acquired from the failed Banco Master, Bloomberg reported Friday.
The bank said it will instead manage and remarket the assets directly after the two sides failed to agree on the economic and financial terms of the proposed transaction, the report said.
Chief Executive Officer Nelson Antonio de Souza said the bank has sufficient liquidity to continue operating while it seeks another solution for the assets, adding the transaction is no longer needed to support the bank's capital raise or liquidity position, Bloomberg reported.
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