Eneva S.A. (BOVESPA:ENEV3) made a non-binding proposal to acquire 50% stake in Vibra Energia S.A. (BOVESPA:VBBR3) from Ronaldo Cezar Coelho and others in a merger of equals transaction on November 26, 2023. As a part of acquisition, Eneva has sent a letter to Vibra's board of directors proposing the stock-for-stock merger of equals, which it dubbed a "unique opportunity for both companies and their shareholders given its solid strategic rationale".

Eneva S.A. (BOVESPA:ENEV3) cancelled the acquisition of 50% stake in Vibra Energia S.A. (BOVESPA:VBBR3) from Ronaldo Cezar Coelho and others in a merger of equals transaction on November 29, 2023. Eneva cancelled the deal because Vibra believes that the indicated exchange ratio is ?unjustifiable? and the terms of the proposed deal ?do not have any attractiveness for Vibra's shareholders.