FAR will come out of default in the next couple of weeks by paying the outstanding cash calls so it can complete the sale of sangamor and obtain shareholder approval.
I expect the deal will be on a similar basis to cairn’s in that a price will be agreed as at 1 January 2020 and then all costs since that date will be reimbursed by the acquirer. So any amount paid to come out of default will be recovered in full.
I expect we will have usd150-200m cash on completion of the sale.
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