Herbert Smith Freehills is advising Australian energy company Santos Ltd. on two of three deals the company has undertaken to raise a total of $2.5 billion in new capital.
Adelaide-based Santos raised $1.8 billion through an entitlement offer to current shareholders, while issuing an additional $352 million worth of shares to Chinese private equity fund Hony Capital. The company also is selling its 35 percent stake in the Kipper gas field, off the coast of Victoria, to Mitsui E&P Australia Pty. Ltd. for $367 million.
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