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Mastercard gained 6.93% of Brazil’s BRB via a lien from a debt default, plans to sell shares, while its bank unit was liquidated over fraud and insolvency.
Mastercard now holds 6.93% of Brazil’s Banco de Brasília via a legal lien after a debt default, acquiring 33.6 million shares without strategic intent, with plans to sell them per regulations.
The stake arose from a collateral chain tied to businessman Nelson Tanure, involving funds like WNT and Celeno.
BRB said control remains unchanged, leadership is being reshuffled, and no capital raise has been mandated.
Separately, Brazil’s central bank ordered the liquidation of Will Financeira, a unit of Banco Master, due to insolvency and fraud probes, following Mastercard’s suspension of its cards over unpaid settlements.
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Mastercard obtuvo el 6.93% del BRB de Brasil a través de un gravamen de un incumplimiento de la deuda, planea vender acciones, mientras que su unidad bancaria fue liquidada por fraude e insolvencia.