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Australasia, News

Australia’s FAR delays vote on Sangomar stake sale for third time

April 15 (Reuters) – Australia’s oil and gas explorer FAR Ltd on Thursday postponed a vote on the sale of its stake in an oil project off Senegal for the third time while investors study a takeover offer from private investment firm Remus Horizons.

Remus’ A$209.6 million ($161.6 million) offer for FAR hinges on the Australian firm dropping its 15% stake sale in the Sangomar project to gas producer Woodside Petroleum.

A general meeting to vote on the sale has been adjourned till April 28, the company said. ($1 = 1.2974 Australian dollars) (Reporting by Shashwat Awasthi in Bengaluru; editing by Uttaresh.V)

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