Will Bank Sale to Mubadala Put on Hold After Central Bank Liquidates Banco Master

Overview

• The Central Bank liquidated four entities in the Master group and placed Banco Master Múltiplo under temporary special administration to preserve a potential sale of Will Bank.
• Will Bank was not liquidated and remains under the Master Múltiplo license in RAET, allowing operations to continue while administrators seek a market solution.
• Mubadala suspended the near-signed acquisition reportedly valued at about R$3 billion and is reassessing the deal in light of the new regulatory landscape.
• EFB Regimes Especiais was appointed to handle the liquidations and to administer the RAET at Master Múltiplo, a regime that may last up to 120 days.
• Sources cite roughly R$7 billion in Will Bank liabilities and about R$8 billion in ongoing Mastercard transactions, as the Central Bank recently tightened payment-arrangement risk rules clarifying loss responsibilities.