Australia’s LNG player, Santos, further clarified the media comments regarding a preliminary agreement between ENN and Harbour Energy (Harbour) for a joint bid for Santos takeover.
Initially, Santos said it was unaware of any agreements between ENN and Harbour.
ENN has since advised Santos that media reports were not an accurate translation of their announcement and should be interpreted as an intention to engage with Harbour and that no agreement has been reached between Harbour and ENN.
Santos confirms that the strategic agreement between Santos, ENN and Hony Capital (Hony) from June 2017 remains in effect.
This requires ENN and Hony to procure the exercise of voting and disposal rights attaching to their Santos shares in accordance with a majority recommendation of the Santos board in relation to a third-party change of control proposal.
Santos continues to advise that its shareholders take no action in relation to the Harbour proposal at this time.