BTG Buys $266 Million of Assets From Banco Master, Holders (1)

Banco BTG Pactual SA has reached an agreement to acquire about 1.5 billion reais ($266 million) in assets from troubled Banco Master SA and its shareholders, according to a statement released by the bank Tuesday.

The assets include the five-star Fasano hotel located in Itaim, one of São Paulo’s most upscale neighborhoods, according to people with knowledge of the matter, who asked not to be identified discussing private information.

The deal also includes stakes in publicly traded companies such as electricity provider Light SA, e-commerce platform Meliuz, BTG said in the statement. BTG also acquired a stake in ...