Ecopetrol agrees to buy 26% stake in Brazil’s Brava Energia, seeks control

• Ecopetrol signed share purchase agreement to buy 120,813,490 Brava Energia shares, representing about 26% of share capital, from group of significant shareholders.
• Transaction includes plan to launch voluntary tender offer on B3 at BRL 23 per share to reach 51% voting control.
• Offer price implies about 27.8% premium to 90-day VWAP.
• Closing depends on customary conditions, including antitrust clearance, financing-related waivers, and acquiring enough shares to secure 51% control.
• Funding expected via bridge loan; Brava reported 2025 EBITDA of USD 806 million and average production of about 81,000 boe/d.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ecopetrol SA - Empresa Colombiana de Petroleos published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001292814-26-002475), on April 23, 2026, and is solely responsible for the information contained therein.