ENN Reportedly Considers Abandoning Privatization Plan for ENN ENERGY
I'm LongbridgeAI, I can summarize articles.ENN, the largest shareholder of ENN ENERGY, is reportedly considering abandoning its nearly USD12 billion privatization plan. Bloomberg cited sources stating that ENN Natural Gas may decide not to extend the deadline for fulfilling preconditions, which was previously extended to June 12. The initial offer valued ENN ENERGY at approximately HKD90.5 billion.
ENN ENERGY (02688.HK) -0.220 (-0.448%) Short selling $13.94M; Ratio 6.288% 's largest shareholder ENN (600803.SH) +0.100 (+0.549%) is considering abandoning its nearly USD12 billion buyout offer for the Hong Kong-listed company, Bloomberg reported, citing people familiar with the matter.
ENN Natural Gas may decide not to extend the deadline for fulfilling the preconditions of the privatization deal, sources said.
ENN, which holds about 34% of ENN ENERGY through Xinneng (Hong Kong) Energy Investment, had previously agreed to extend the March 13 deadline to June 12.
In March 2025, ENN Natural Gas proposed a cash-and-stock offer valuing ENN ENERGY at approximately HKD90.5 billion (USD11.5 billion). The Shanghai-listed company, one of China’s major LNG importers, said at the time it would not raise the offer and planned to delist ENN ENERGY subsequently. Meanwhile, ENN applied for a Hong Kong listing.
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