🟢 EC is trading 3.9% up on tender offer for 25% stake in Brava Energia

EC is trading 3.9% up at $14.39 after the company announced a major strategic move in Brazil.

• Ecopetrol's Brazilian subsidiary has launched a voluntary tender offer to acquire approximately 25% of Brava Energia S.A. on Brazil's B3 stock exchange. [1, 3]
• The offer price of R$23.00 per share represents a 20.9% premium over Brava's 90-day volume-weighted average price. [2]
• This action is part of a larger, previously announced transaction that would result in Ecopetrol acquiring a 51% controlling voting interest in Brava Energia, subject to approvals. [1, 6]