Australian LNG stakeholder Santos, the company that was the subject of takeover interests from the US, the Middle East and China from 2015 to 2018, said that the Chinese ENN Group which had formed a strategic relationship with Santos from that era was no longer a significant shareholder.

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Asian Pacific LNG stakeholder Santos, the Australian company that was the subject of a US$10.8-billion bid from US equity fund Harbour Energy backed by its parent EIG Global, saw its shares rise by 2 percent on May 30 as corporate normality returned after the offer was withdrawn last week because of the high oil price.

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Australian LNG stakeholder Santos has rejected the $10.8-billion takeover offer from US equity fund Harbour Energy because it undervalued the Adelaide-based company and would have required Santos to provide significant support for Harbour’s debt-raising and to hedge a significant proportion of oil-linked production.

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US private equity firm Harbour Energy has raised its offer to $US10.8 billion ($A14.2Bln) for Santos, the stakeholder in three Asia-Pacific LNG export ventures, provided the Australian company puts in place hedging for the soaring oil price.

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Santos, the Australian stakeholder in three Asia-Pacific LNG export ventures, has received a binding bid from Harbour Energy, a subsidiary of US equity firm EIG Global Energy Partners, confirming an original offer of $US10.4 billion ($A13.8Bln) with a number of changes relating to large Chinese shareholders.

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Santos, the Australian stakeholder in three Asia-Pacific LNG export ventures, has responded to rising speculation that a US$10.4-billion takeover offer from Harbour Energy, a subsidiary of US equity firm EIG Global Energy Partners, is set to proceed.

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Australian energy company Santos posted a first-half jump of 24 percent in revenue to US$1.5 billion due to higher LNG sales, reflecting the ramp-up of Gladstone LNG and a strong showing from Papua New Guinea LNG, though a net loss was recorded because of a one-off charge.

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Santos, the Australian energy company and stakeholder in three Asia-Pacific LNG plants, said it was exercising its option to redeem 1 billion euros (US$1.17 billion) in Notes originally issued in 2010 as it continues to pay down debts amid a restructuring that has coincided with giving Chinese shareholders a great role.

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Australian energy company Santos, a stakeholder in three Asia-Pacific LNG export plants, has started a strategic partnership with two Chinese companies and this will include upstream investment in natural gas in Australia and Papua New Guinea.

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Australian energy company Santos, a stakeholder in three Asia-Pacific LNG plants, said a block of its shares was bought by an equity fund from China, taking Chinese holdings in the Adelaide-based company to more than 15 percent.

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