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# Brazil's BRB Awaits Central Bank and CADE Approval for Banco Master Acquisition
- URL: https://www.theglobalbanker.com/brazil-brb-banco-master-acquisition-central-bank-cade-approval/
- Published: 2025-03-29T06:00:00.000Z
- Updated: 2026-10-02T14:36:32.000Z
- Description: BRB's 58% acquisition of Banco Master entered regulatory review by Brazil's Central Bank and CADE after the deal was announced on 28 March 2025, excluding R$23bn in non-core assets.
- Author: TGB Editorial Team
- Tags: M&A, Americas, #archive

Brasília-based lender BRB has entered the formal regulatory review phase for its acquisition of a 58% stake in Banco Master, following the announcement of the transaction on 28 March 2025\. The deal now requires approval from Brazil's Central Bank, known as Bacen, as well as from CADE, the country's competition authority, before it can be completed.

BRB is a state-controlled regional lender headquartered in the Federal District; Banco Master is a privately held institution that expanded through acquisitions and the origination of fixed-income products in recent years. 

#### STRUCTURE OF THE DEAL AND THE ASSET CARVE-OUT

The transaction has been structured to exclude approximately R$23 billion in non-core assets currently held on Banco Master's balance sheet, specifically a portfolio of precatórios — court-ordered payment claims against public entities — and related litigation-derived holdings. 

The timeline for Bacen and CADE decisions has not been publicly committed to.