INSUBCONTINENT EXCLUSIVE:
Master, citing violations of legal protocols.The ruling followed a request by local prosecutors who argued BRB failed to secure mandatory
shareholder and legislative approvals before advancing the deal.While BRB claims compliance with internal statutes, the judge emphasized
that skipping these steps risked public harm, allowing only preparatory actions to continue.The proposed acquisition, announced in March
BRB CEO Paulo Henrique Costa confirmed that the final price could drop below R$2 billion, depending on the outcome of audits.Brazilian Court
(court-ordered government debts).Critics argue the BRB deal shifts risks to public coffers, with the FGC potentially liable for R$50 billion
Parallel investigations by federal and district prosecutors examine possible financial crimes and irregularities in the acquisition
expansion strategy and denies political influence
Yet rivals question the logic of a state bank absorbing a private lender with aggressive risk exposure.Central Bank reforms in
