Curtis Advises Ecopetrol Capital AG on US$1.2 Billion Bridge Financing for Acquisition of Controlling Stake in Brava Energia

Curtis, Mallet-Prevost, Colt & Mosle LLP advised Ecopetrol Capital AG, a subsidiary of Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC), in connection with the financing of Ecopetrol's acquisition of a controlling 51% stake in Brava Energia S.A. (B3: BRAV3), a major milestone in Ecopetrol's growth and diversification strategy in Brazil. Curtis represented Ecopetrol Capital AG as borrower under a US$1.2 billion syndicated bridge facility, and as lender in the related onlending of those funds to Ecopetrol Investimentos do Brasil Ltda., the acquisition vehicle.

The transaction closed through two combined steps: the settlement of a voluntary tender offer on the B3 stock exchange, through which Ecopetrol Investimentos acquired approximately 25% of Brava's outstanding share capital, and the closing of a share purchase agreement with certain Brava shareholders for an additional approximately 26% stake. The aggregate consideration was approximately US$1.2 billion, funded through the bridge facility extended to Ecopetrol Capital AG and onlent to Ecopetrol Investimentos.

Brava contributes a complementary and diversified asset base to the Ecopetrol Group, with estimated proved reserves (1P) of approximately 459 million barrels of oil equivalent and average daily production of approximately 78.8 thousand barrels of oil equivalent per day for the six months ended June 30, 2026.

The Curtis team included partner Elisa Botero, counsel Pablo Calderón, and associate Susana Echavarria, with partner Valarie Hing providing support.

This transaction underscores Curtis' cross-border capabilities in New York-governed financings of various types, including syndicated credit facilities and acquisition financings. The firm has extensive experience advising Latin American clients on cross-border deals and advising national oil companies and other sovereign clients across the energy sector.