Brazilian police investigate Caixa acquisition

Brazilian police investigate Caixa acquisition

Brazil M&A

Brazil's federal police said it has opened an investigation into the "possibly fraudulent acquisition" of shares in consumer lender Banco PanAmericano by the federal savings bank Caixa Economica Federal.A federal court in Brasilia authorized the cops to search Caixa's offices and also froze BRL1.5bn ($476m) in assets, the federal police said in a statement. The police also said it is investigating if the acquisition caused losses for Caixa's clients and account holders.The police carried out 30

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial