Hony Capital increases its stake in Santos

Hony Capital increases its stake in Santos
Image courtesy of Santos

Australian LNG player Santos said that the Chinese private equity firm, Hony Capital, has bought 48 million company shares at a price of A$3.84 per share (US$2.84).

The purchase made after market close on May 3, 2017, represents 2.3 percent of the company’s issued capital.

The purchase will increase Hony, ENN and affiliates’ interest in the company to 15.1 percent, the company’s statement reads.

“The acquisition price represents a 6 percent premium to yesterday’s closing price of $3.63,” Santos said.

In November last year, Hony Capital bought a 2.25 percent stake in Santos at a price of A$3.98 per share. That purchase was completed after the company sold its 11.7 percent stake in Santos to ENN Group for $750 million.

1 AUD = 0.740011 USD

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