BRASILIA, March 2 (Reuters) - Brazil’s Senate on Wednesday approved a provisional measure that allows state-run lenders Banco do Brasil and Caixa Economica Federal and its subsidiaries to buy a stake in other companies. The measure allows the lenders to acquire stakes in other companies until Dec. 31, 2018. A previous law had authorized them to make those purchases until mid-2011. The measure now needs to be sanctioned by President Dilma Rousseff. (Reporting by Eduardo Simoes; Writing by Alonso Soto; Editing by Sandra Maler)
Brazil's Senate has agreed to provisionally allow state-run banks Banco do Brasil and Caixa Economica Federal and its subsidiaries to buy stakes in other companies until December 31st, 2018; the measure now needs to be sanctioned by President Dilma Rousseff. The move is a major victory for the Brazilian government, which had been pushing for such an agreement since last year.