Ecopetrol's (EC) Brazilian unit launched a voluntary tender offer to acquire about a 25% stake in Brava Energia at $23 Brazilian real ($4.59) per share, representing 116.1 million shares, Ecopetrol said Tuesday.
The offer represents a roughly 20.9% premium to the 90-day volume-weighted average price and is part of a broader deal that could give Ecopetrol a 51% controlling stake.
The tender offer will remain open until June 25, it added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments