ENN bought the stake from Chinese private equity player Hony Capital which had recently increased its equity holding in Santos when the Australian company carried out an equity issue last year.
As part of the deal, Hony will become a strategic investor in ENN via a US$380 million private placement in ENN Ecological Holdings.
"This introduction to the upstream sector takes us a step forward in our aim to generate value across the entire natural gas value chain, and allows us to learn and build experience," ENN Group chairman Wan Yusuo said.
“Equally
