Welligence Brazil M&A | Ecopetrol buys 26% of Brava Energia, setting course for majority control
April 30, 2026
On April 23, 2026, Ecopetrol (BVC: ECOPETROL; NYSE: EC), Colombia’s NOC, announced it had entered into a Share Purchase Agreement (SPA) with a group of financial shareholders (Jive, Yellowstone, Bloco Somah Printemps Quantum) to acquire 120,813,490 common shares of Brava Energia (B3: BRAV3), representing approximately 26% of the company’s total share capital, for R$23.00/share, a total consideration of R$2.78 billion (~US$552 million).