Ecopetrol’s Brava Energia takeover bid sets Aug. 5 auction date, drops CADE and debenture waiver conditions
EC•Conditions and settlement timing
The transaction requires enough tendered shares to reach 51% combined ownership; otherwise no shares will be acquired in the offer.
Settlement is scheduled for Aug. 17, 2026, eight business days after the auction.
Tender auction set for Aug. 5, 2026
Ecopetrol Investimentos do Brasil is seeking control of Brava Energia via a B3 tender auction set for Aug. 5, 2026.
The offer targets 116,110,717 ordinary shares, about 25% of share capital, at BRL 23 per share, subject to corporate-action adjustments.
The bid is tied to a separate agreement to buy 120,813,490 shares, about 26%, at a base price of BRL 24 per share.
