Ecopetrol S.A. resumed its voluntary tender offer for Brazil’s Brava Energia S.A. The Colombian state-controlled firm filed a revised offer following recommendations from the CVM, Brazil's securities regulator.
The offer targets 116,110,717 common shares. This volume represents approximately 25% of Brava Energia’s total share capital.
Ecopetrol intends to gain a controlling stake to expand its operational footprint in the Brazilian energy market. The auction is scheduled for August 5, 2026.