Brazil's BTG Pactual to acquire local lender Digimais, source says

SAO PAULO, April 8 (Reuters) - Brazilian investment bank BTG Pactual BPAC3.SA has signed a deal to acquire local lender Digimais, which belongs to prominent evangelical bishop Edir Macedo, for an undisclosed amount, a person close to the transaction told Reuters on Wednesday.

The closing of the transaction is contingent on giving other potential suitors for Digimais the opportunity to submit competing bids, the source said, asking to remain anonymous because the negotiation is private.

The agreement complies with new regulations introduced last year for institutions associated with Brazil's private credit guarantee fund FGC following the collapse of lender Banco Master in November.

BTG declined to comment and Digimais did not immediately respond to a request for comment. FGC, meanwhile, said it does not comment on transactions involving its associated members.

The sale of Digimais to BTG was reported by local newspaper Valor Economico earlier in the day.

Digimais is a credit-focused bank with a strong emphasis on automobile financing, according to a corporate presentation. Last year, a former partner of Banco Master had announced the acquisition of Digimais, but the deal was never concluded.