Mergers & Acquisitions ·
Ecopetrol S.A.'s Brazilian subsidiary completed an auction to acquire approximately 25% of Brava Energia S.A.'s share…
ECEcopetrol S.A.
Ecopetrol S.A.'s Brazilian subsidiary completed an auction to acquire approximately 25% of Brava Energia S.A.'s share capital at R$23.00 per share, totaling roughly R$2.67 billion for 116,110,717 shares. This transaction is part of a broader agreement announced on April 23, 2026, to acquire a controlling 51% interest in Brava, which also includes a separate share purchase agreement with other shareholders holding approximately 26%. Settlement and payment for the auctioned shares are scheduled for August 17, 2026. The company intends to finance the acquisition initially through a short-term bridge facility from Ecopetrol Capital AG, planning to refinance later with long-term debt or equity. Ecopetrol is Colombia's largest integrated energy company, dominating hydrocarbon production, refining, and petrochemicals while holding significant stakes in regional power transmission and infrastructure.