Russia's Lukoil offers to buy 100% in Australia's FAR for $171 mln

MOSCOW, Feb 17 (PRIME) -- Russian oil company Lukoil has sent a proposal to purchase 100% of Australia's FAR for U.S. $171.2 million, the Australian company said in a statement on Wednesday.

"Overnight, FAR Limited received a conditional non-binding indicative proposal from Lukoil, one of the world's largest publicly traded energy companies, to acquire 100% of the shares of FAR at 2.2 Australian cents cash per share. Lukoil is headquartered in Russia. The Lukoil Proposal values FAR at A$220 million," FAR said.

The company emphasized that the proposal is non-binding and is to be studied in all aspects.

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