Hony ups stake in Aussie oil pro­ducer

China Daily (USA) - - BUSINESS -

China’s Hony Cap­i­tal has upped its stake in Aus­tralian oil and gas pro­ducer San­tos just eight months af­ter sell­ing its ma­jor­ity hold­ings to pri­vate en­ergy player ENN group. Hony pur­chased 2.25 per­cent of the com­pany’s is­sued cap­i­tal at an 11 per­cent pre­mium for A$159 mil­lion ($121.19 mil­lion). San­tos’ shares were 6.42 per­cent higher at A$3.81 ($2.90) at Fri­day’s close. Hony is be­lieved to have also taken an eq­uity stake in ENN as part of the deal.

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