Ecopetrol wins CVM appeal on Brazil tender offer

Rhea-AI Filing Summary

Ecopetrol S.A. reports that Ecopetrol Investimentos do Brasil received an official letter from the Brazilian Securities and Exchange Commission (CVM) stating that the CVM Board ruled in favor of Ecopetrol Investimentos on an administrative appeal related to a public tender offer for the acquisition of shares (OPAV).

The CVM declared that the previous suspension of the OPAV is ineffective and granted Ecopetrol Investimentos until July 22, 2026 to amend and publish the OPAV offer document, including a new auction date. Ecopetrol states it will keep the market informed of material developments. The company highlights its role as Colombia’s largest integrated energy company, with more than 19,000 employees and a 51.4% stake in ISA.

Positive

• CVM Board ruling favors Ecopetrol Investimentos and lifts the OPAV suspension, allowing the public tender offer for acquisition of shares in Brazil to move forward once the amended offer document is published by July 22, 2026.

Negative

• None.

Key Figures

CVM Board decision date: July 14, 2026 Official letter reference: No. 160/2026/CVM/SRE/GER-1 OPAV amendment deadline: July 22, 2026 +3 more

6 metrics

CVM Board decision date July 14, 2026 Date the CVM Board ruled in favor of Ecopetrol Investimentos on the OPAV appeal

Official letter reference No. 160/2026/CVM/SRE/GER-1 Identifier of the CVM official letter sent to Ecopetrol Investimentos

OPAV amendment deadline July 22, 2026 Deadline granted by CVM to amend and publish the OPAV offer document

ISA stake acquired 51.4% of ISA’s shares Equity interest Ecopetrol reports holding in ISA

Employees more than 19,000 employees Size of Ecopetrol’s workforce as described

Hydrocarbon production share more than 60% of the hydrocarbon production Portion of Colombia’s hydrocarbon production for which Ecopetrol is responsible

Key Terms

public tender offer, OPAV, Brazilian Securities and Exchange Commission, forward-looking statements, +1 more

5 terms

public tender offer financial

"administrative appeal filed in connection with the public tender offer for the acquisition of shares"

A public tender offer is a formal, public proposal by an individual or company to buy a specified number of shares from existing shareholders at a stated price and within a fixed time window. Like someone offering to buy neighbors’ houses at a set price, it can change who controls the company, influence the market price of the stock, and gives shareholders a clear, time-limited chance to sell their shares under the offered terms.

OPAV financial

"public tender offer for the acquisition of shares (OPAV)"

Brazilian Securities and Exchange Commission regulatory

"through which the Brazilian Securities and Exchange Commission ("CVM") informed"

A federal regulator that oversees Brazil’s securities markets, ensuring companies, stock exchanges, brokers and fund managers follow rules on disclosure, trading and investor protection. Think of it as a financial referee or traffic controller that reduces fraud and surprises by enforcing clear reporting and fair trading; its actions affect how risky or trustworthy Brazilian investments appear and can influence market prices and investor confidence.

forward-looking statements financial

"This release contains statements that may be considered forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

hydrocarbon production technical

"responsible for more than 60% of the hydrocarbon production of most transportation"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Ecopetrol (EC) announce about the CVM appeal in Brazil?

Ecopetrol announced that the Brazilian Securities and Exchange Commission (CVM) Board ruled in favor of Ecopetrol Investimentos on an administrative appeal related to a public tender offer (OPAV), lifting the previous suspension and allowing the process to continue once documentation is updated.

How does the CVM decision affect Ecopetrol’s OPAV tender offer?

The CVM decision makes the prior suspension of the OPAV ineffective, so the tender offer may proceed. Ecopetrol Investimentos must first amend and publish the OPAV offer document, including a new auction date, within the deadline set by the CVM.

What deadline did the CVM give Ecopetrol Investimentos regarding the OPAV offer?

The CVM granted Ecopetrol Investimentos until July 22, 2026 to amend and publish the OPAV offer document. The update must include, among other items, the new auction date for the public tender offer for acquisition of shares.

Who is Ecopetrol Investimentos do Brasil in relation to Ecopetrol (EC)?

Ecopetrol Investimentos do Brasil is a controlled company of Ecopetrol S.A. It is the vehicle involved in the Brazilian public tender offer (OPAV) and was the party that received the CVM’s official letter confirming the favorable appeal decision.

What kind of company is Ecopetrol (EC) and where does it operate?

Ecopetrol is described as Colombia’s largest company and a major integrated energy company in the Americas, with more than 19,000 employees. It has hydrocarbon, refining, petrochemical and gas operations in Colombia and energy transmission, road concessions and related activities across several Latin American countries.

What stake does Ecopetrol (EC) hold in ISA according to this report?

Ecopetrol states that with the acquisition of 51.4% of ISA’s shares it participates in energy transmission, real-time system management and a coastal highway concession, and through ISA and its subsidiaries it holds leading positions in power transmission and infrastructure in multiple Latin American countries.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 07/16/2026 - 09:21 AM EDT Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of July, 2026

Commission File Number 001-34175

ECOPETROL S.A.

(Exact name of registrant as specified in its charter)

N.A.

(Translation of registrant’s name into English)

COLOMBIA

(Jurisdiction of incorporation or organization)

Carrera 13 No. 36 – 24

BOGOTA D.C. – COLOMBIA

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x      Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)

Yes ¨      No x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)

Yes ¨      No x

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨      No x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- N/A

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Ecopetrol S.A.
	By:	/s/ Alfonso Camilo Barco
		Name:	Alfonso Camilo Barco
		Title:	Chief Financial Officer

Date: July 16, 2026

 

Ecopetrol Reports CVM Decision on Appeal Related to the Tender Offer

Bogotá, July 16, 2026

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that on July 15, 2026, Ecopetrol Investimentos do Brasil ("Ecopetrol Investimentos"), a controlled company of Ecopetrol S.A., received Official Letter No. 160/2026/CVM/SRE/GER-1, through which the Brazilian Securities and Exchange Commission ("CVM") informed that its Board of Commissioners, in its ordinary session held on July 14, 2026, ruled in favor of Ecopetrol Investimentos regarding the administrative appeal filed in connection with the public tender offer for the acquisition of shares (OPAV).

In its Official Letter, the CVM also states that the suspension previously imposed on the OPAV is ineffective and grants Ecopetrol Investimentos until July 22, 2026, to amend and publish the OPAV offer document, including, among other matters, the new date for the auction.

Ecopetrol will continue to keep the market duly informed of any material developments related to this transaction.

------------------------------------- 

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA’s shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.

This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company’s prospects for growth and its ongoing access to capital to fund the Company’s business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company’s competitiveness and the performance of Colombia’s economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements.

For more information, please contact:

Investor Relations Office

Email: investors@ecopetrol.com.co  

Head of Corporate Communications (Colombia)  

Marcela Ulloa  

Email: marcela.ulloa@ecopetrol.com.co 

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 6.4 KB