Brazil lender BRB receives $3 billion offer for Master assets, says governor

About this update from Brb Banco De Brasilia Sa

Brazil's Federal District Governor Celina Leao said on Friday that the government received a proposal for assets from state-run lender BRB BMFBOVESPA:BSLI3 that were previously held by the collapsed Banco Master.Leao said in a post on X, without providing details about who made the offer, that the proposal was of 15 billion reais ($2.99 billion), which included 4 billion reais in cash and 11 billion reais in subsidiaries' shares.BRB is seeking funds to address losses tied to allegedly fraudulent credit portfolios bought from Master, which was liquidated by Brazil's central bank in November amid severe liquidity challenges.($1 = 5.0084 reais)

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