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Stock impact report

Ecopetrol signs SPA for 26% stake in Brava Energia [Yahoo! Finance]

Ecopetrol S.A. American Depositary Shares (EC) 
Company Research Source: Yahoo! Finance
Ecopetrol has signed a share purchase agreement (SPA) with Brava Energia's shareholders Jive, Yellowstone and Bloco Somah Printemps Quantum. Through the deal, Ecopetrol aims to eventually claim a majority stake in Brava Energia. The transaction involves the purchase of around 120.81 million shares, which will provide Ecopetrol, or an affiliate or subsidiary within the Ecopetrol Group, an interest in Brava Energia. Finalisation of the transaction depends on various standard conditions being fulfilled. These include approval from Brazil's Administrative Council for Economic Defence and obtaining necessary waivers and consents related to Brava Energia's financing arrangements and commercial agreements. Ecopetrol, or an affiliate or subsidiary within the Ecopetrol Group, plans to launch a voluntary tender offer on Brazil's B3 exchange at 23 reais ($4.56) per share. The offer is intended to acquire the additional Brava Energia shares needed to reach a 51% equity stake in the compa Show less Read more
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