Banco Master buys Banco Voiter (formerly Indusval)

O Master Bankcontrolled by banker Daniel Vorcaro, announced the purchase of Voiter Bank (ex-Indusval). The deal paves the way for a corporate reorganization of the institution, which had already been planned, and will facilitate its advancement in agribusiness.

Conversations with Voiter's controller, businessman Roberto de Rezende Barbosa, owner of 100% of the capital, began at the beginning of 2023, but did not go ahead at the time. After a hiatus, in December, negotiations resumed and the parties quickly reached an agreement.

With the acquisition, Master's net equity (PL) will increase by R$800 million, to R$3.5 billion. Of the total, R$400 million corresponds to Voiter's PL. But, according to the terms of the contract, another R$400 million will be contributed by Barbosa.

In the bank's new corporate design, retail and wholesale operations will be separated into two companies, with different partners, and will be under a new holding company, Master SA

Vorcaro and Augusto Lima, current partner and CEO of Banco Master, will share the retail operation. In the wholesale operation, which will be incorporated into Voiter's structure, the main partner will be Maurício Quadrado, partner and president of Banco Master de Investimentos, under which there are brokers, managers and DTVMs.

In a statement, the bank classified the purchase of Voiter as “an important step for us at this time of reorganization, as it will concentrate all of the group's investment banking operations in addition to opening a new front in agriculture”.

One of Voiter's main focuses, alongside the corporate market, was agribusiness, which will facilitate the Master's investment in the sector. According to Vorcaro, based on the institution's client portfolio, the idea is to expand the range of products and offer more sophisticated structured credit and operations linked to the investment bank, and not just focus on basic products, such as crop and capital financing. of rotation.

The ability to create sophisticated financial solutions, tailored to each client, is one of the differences for which Master quickly became known in the market. Among the company's cases in special situations, for example, are Flytour/BeFly, Veste (formerly Restoque) and Metalfrio. The bank also has investments in Cidade Matarazzo, Fasano Itaim and Light.

Currently, Voiter's credit portfolio is R$2.6 billion, which will be added to Master's R$24. With this and other actions planned for the year, the bank controlled by Vorcaro plans to reach the end of 2024 with R$5 billion in PL. Last year, it ended with R$2.7 billion, around R$6 billion in revenue and a net profit estimated at approximately R$500 million.

The completion of the deal must now go through the approval process by regulators.