Views Article – Sharenet Wealth

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)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.