Portugal approves sale of CGD Brazil to MD Capital

The Portuguese government approved the sale of 100% of Caixa Geral de Depósitos' Brazilian subsidiary to MD Capital, a firm founded by former Bradesco executives Mario da Silveira Teixeira Junior and Dorival Antonio Bianchi. The transaction, valued at roughly 250 million reais (about 40 million USD), was selected from a shortlist that also included Nubank, the Russian group Sputnik and Garantia Capital. Nubank withdrew after acquiring Banco Porto Real to obtain a banking licence.

This is the third attempt by Portugal to divest the CGD Brazil unit, part of a broader strategy to sell overseas assets to improve the country's fiscal position, with public debt near 90 % of GDP, above the EU limit. CGD Brazil holds about 1.9 billion reais in assets and a credit portfolio of 825 million reais, serving companies with Iberian or Brazilian‑European trade interests.