Australia's FAR Ltd receives $170 mln takeover offer from Russia's Lukoil

Credit: REUTERS/MAXIM SHEMETOV

Australian oil & gas explorer FAR Ltd said on Wednesday it received a non-binding, indicative takeover offer from Russian energy giant PJSC Lukoil that valued the company at A$220 million ($170.37 million).

Feb 17 (Reuters) - Australian oil & gas explorer FAR Ltd FAR.AX said on Wednesday it received a non-binding, indicative takeover offer from Russian energy giant PJSC Lukoil LKOH.MM that valued the company at A$220 million ($170.37 million).

FAR said Lukoil offered 2.2 Australian cents in cash per share, which is double the company's last close price.

($1 = 1.2913 Australian dollars)

(Reporting by Soumyajit Saha in Bengaluru; Editing by Krishna Chandra Eluri)

((Soumyajit.Saha@thomsonreuters.com;))

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