MD Capital has won the tender to acquire Banco Caixa Geral Brasil, the Brazilian subsidiary of Portugal’s state-owned Caixa Geral de Depósitos.
The deal marks the conclusion of a nine-year exit strategy for the Portuguese lender in the Latin American market.
MD Capital, an investment firm established by former Bradesco executives including Mario da Silva, emerged as the successful bidder in the competitive process.
The acquisition follows a period of intense interest in the asset, with digital lender Nubank previously filing a binding offer to acquire the subsidiary.
Nubank's bid was designed to secure a full banking license and expand its physical footprint in Brazil, but the tender ultimately favored MD Capital.
The shift in ownership highlights the competitive landscape for banking assets in Brazil, where both traditional investment groups and digital challengers are vying for market share.