Colombia’s state-owned energy company Ecopetrol signed a share purchase agreement to acquire approximately 26% of Brava Energia, a Brazilian energy company, by purchasing 120,813,490 common shares from a group of selling shareholders including Somah Printemps Quantum Group, Jive Group, and Yellowstone. The transaction includes plans for Ecopetrol to launch a partial voluntary public tender offer to achieve a controlling 51% stake in Brava Energia at a price of 23 reais per share, representing a 27.8% premium over the company’s 90-day volume-weighted average share price. The tender offer will be open to all Brava Energia shareholders and is subject to regulatory approval from Brazil’s antitrust regulator CADE, as well as completion of the private acquisition contingent on achieving controlling stake and obtaining required consents under Brava Energia’s financing and commercial agreements. Ecopetrol intends to fund the acquisition through additional acquisitions and the tender offer, aiming to consolidate its position in Brazil’s energy sector. The deal underscores Ecopetrol’s strategic expansion into Brazil, a key market for its growth ambitions.