Ecopetrol advances in the acquisition of an equity stake in Brava Energia S.A. through the launch of a tender offer in Brazil

[출처/시간] Briefing.com - 6:23 AM ET, 05/26/2026

copetrol Investimentos do Brasil LTDA, after obtaining approval from B3, launched a voluntary Tender Offer (TO) on Brazil's B3 stock exchange at a price of R$23.00 per share to acquire 116,110,717 common shares of Brava Energia S.A., representing approximately 25% of its issued and outstanding shares. This offer price represents a premium of approximately 20.9% over the Company's 90-day VWAP prior to the date of this announcement. This TO forms part of the transaction announced on April 23, 2026, which, subject to the Share Purchase Agreement and the satisfaction of applicable conditions precedent, would result in Ecopetrol acquiring a controlling voting interest of 51% in the Company. The TO will remain open until June 25, 2026 (inclusive), date on which the auction will take place. The transaction is subject to applicable regulatory approvals and applicable conditions precedent, all of which are disclosed in the document published today on B3 in Brazil.