Ecopetrol to Buy 26 Percent Stake in Brazil Brava
The Colombian state oil firm plans a public tender offer to gain majority control of Brava. Shares are priced at 23 reais each pending antitrust approval.
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Ecopetrol, the state-controlled oil giant of Colombia, has entered into an agreement to acquire an initial 26% stake in the energy firm BRAVA ENERGIA. The move signals a strategic expansion into Brazil, with the Colombian company indicating its intent to eventually secure majority control of the firm.
