• Natural Gas News

    Far shareholders okay RSSD sale to Woodside

Summary

Russia's Lukoil withdrew its offer to buy Far earlier this month.

by: Shardul Sharma

Posted in:

Complimentary, Natural Gas & LNG News, Africa, Corporate, Mergers & Acquisitions, News By Country, Australia, Senegal

Far shareholders okay RSSD sale to Woodside

Sydney-listed Far said on April 28 its shareholders had approved the sale of the Rufisque, Sangomar and Sangomar Deep (RSSD) project in Senegal to fellow Australian explorer Woodside.

A total of 97.25% votes were in favour of resolution to dispose off the project. “Far will continue to work with Woodside and seek to finalise the remaining condition precedent and completion tasks for the sale,” the company said.

Russia's Lukoil withdrew its offer to buy Far earlier this month. Lukoil made its non-binding bid for Far, valued at $167mn, after a failed attempt to buy the Australian company's 14% stake in RSSD. Far announced earlier this year it had signed a sales and purchase agreement to transfer its interest in RSSD to Australia's Woodside, already an investor in the Senegalese project.