🇧🇷 Luiz Inácio Lula da Silva
Colombian Firms Back Brazil Before Lula Win
What happened
Ecopetrol paid about US$1.2 billion for Brava Energia and Grupo Energía Bogotá (GEB) bought four Brazilian grids before President Lula won the election. The deals were completed on 17 August and 16 July, respectively, before the 25 October runoff. Ecopetrol's purchase of Brava was agreed on 23 April 2026.
Why it matters
This investment matters because Ecopetrol now earns reais as well as dollars, and a weaker Brazilian currency can lower the dollar value of its earnings. US investors holding Ecopetrol's New York shares are now part of a business with Brazilian operations. Colombian companies are buying into the Brazilian market for the long term.
Key facts
- Ecopetrol paid about US$1.2 billion for Brava Energia.
- Grupo Energía Bogotá (GEB) bought four Brazilian grids.
- The deals were completed before President Lula's election win.
- Ecopetrol trades on the New York Stock Exchange as EC.
- Ecopetrol has Brazilian oil production and power lines operations.
Topics
Publisher evidence used
Reporting attributed to riotimesonline.com. WorldLeadersNews links readers to the publisher and does not present a headline-only item as a full article analysis.
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