China’s Hony Capital buys stake in Santos

Chinese private equity firm Hony Capital has bought a 2.25 percent stake in Australian LNG player Santos.

Santos said in a statement on Friday that Hony Capital bought 40 million shares worth A$159.2 million ($121.2 million) after market close on Thursday.

The Chinese group now owns about 3.2 percent in Santos.

Hony paid A$3.98 a share, an 11 percent premium to Santos’ closing price on Thursday.

This acquisition comes just 8 months after Hony Capital sold its 11.7 percent share in Santos for $750 million to China’s ENN Group. Under that deal, Hony Capital also acquired a stake in ENN.

LNG World News Staff