Deals · Colombia & Brazil
Key Facts
—Control changes hands. Ecopetrol Brava Energia deal: the Colombian state oil company bought about 25% of Brava for R$2.67 billion (US$521 million), taking it to 51% of the voting capital.
—The auction is done. Ecopetrol’s Brazilian arm took 116,110,717 ordinary shares at R$23.00 (US$4.49) each at auction on 5 August. Financial settlement falls on 17 August.
—Two separate tranches. The auction shares came from minority holders tendering on the exchange. A separate April agreement covers about 26% bought from Jive, Yellowstone and the Somah Printemps Quantum block.
