Colombia's Ecopetrol is moving to take control of Brazilian oil producer Brava Energia, with a tender auction set for June 25 and antitrust review pending.
Colombia · Energy
Key Facts
—The buyer. Colombia’s state-controlled oil company, Ecopetrol, is moving to take control of Brazilian producer Brava Energia.
—The deal. Ecopetrol agreed in April to buy a stake and now aims for a controlling 51% of Brava’s voting shares.
—The price. A tender offer on Brazil’s stock exchange is set at R$23.00 per share, a premium of about 21%.
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