Colombia’s state-linked oil company Ecopetrol completes an auction for a minority stake in Brazilian oil producer Brava Energia. According to the outlets, Ecopetrol, through its Brazilian subsidiary Ecopetrol Investimentos do Brasil Ltda., buys roughly 25% of Brava Energia’s share capital at an auction held on 5 August. The purchase price is reported as R$2.67 billion (US$521 million). Following the transaction, Ecopetrol’s ownership rises to 51% of Brava Energia’s voting capital, giving it control over voting rights.
Both sources describe the deal as part of a staged acquisition process and state that settlement is scheduled for 17 August, subject to customary completion procedures. PR Newswire presents the transaction as a successful auction outcome and frames it as a formal company announcement. The Rio Times focuses on the resulting control position and the headline valuation in Brazilian reais and U.S. dollars. Together, the reporting indicates Ecopetrol uses the auction mechanism to increase its stake, with settlement expected mid-August.
