Ecopetrol Begins Tender Offer for 25% Stake in Brava Energia

MT Newswires Live
05/26

Ecopetrol's (EC) Brazilian unit launched a voluntary tender offer to acquire about a 25% stake in Brava Energia at $23 Brazilian real ($4.59) per share, representing 116.1 million shares, Ecopetrol said Tuesday.

The offer represents a roughly 20.9% premium to the 90-day volume-weighted average price and is part of a broader deal that could give Ecopetrol a 51% controlling stake.

The tender offer will remain open until June 25, it added.

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