Brazil's market regulator has suspended Colombian oil firm Ecopetrol's takeover of Brava Energia, leaving a planned June 25 auction in doubt.
Brazil · Energy
Key Facts
—The halt. Brazil’s market regulator has suspended Colombia’s Ecopetrol takeover of the oil producer Brava Energia.
—The trigger. The watchdog ordered changes to the offer, and Ecopetrol has appealed that ruling.
—The terms. Ecopetrol offered about four dollars and fifty cents a share to take majority control of the company.
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