Banco BMG S.A. (BOVESPA:BMGB4) agreed to acquire 50% stake in Araújo Fontes Consultoria e Negócios Imobiliários and AF Invest Administração de Recursos for approximately BRL 150 million on July 6, 2021. Under the terms of transaction, Bmg will contribute approximately BRL 150 million, comprising a fixed installment of BRL 85 million and a potential variable amount, estimated at BRL 65 million. In January 2022, transaction was approved by the Central Bank.

Banco BMG S.A. (BOVESPA:BMGB4) completed the acquisition of 50% stake in Araújo Fontes Consultoria e Negócios Imobiliários and AF Invest Administração de Recursos on January 31, 2022.