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China's Hony Capital increases stake in Aussie petroleum producer

Xinhua | Updated: 2016-11-11 15:44

SYDNEY - 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 was originally unaware of the aftermarket purchase, later confirming on to investors on Friday it had upped its stake to 3.2 percent.

Santos' shares were 6.42 percent higher at A$3.81 ($2.90) at Friday's close.

It's believed Hony has also taken an equity stake in ENN as part of the deal.

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