BTG to Buy Assets from Banco Master, Shareholders

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.