Mark Mentha of KordaMentha says the offers will be reviewed and compared and he expects there to be talks with the bidders, governments and key stakeholders.
“This is a complex business and the offers have many conditions to be worked through,” Mentha said in a statement today.
“This will require active dialogue with the bidders, Government and key stakeholders. We can confirm both bidders have filed their FIRB applications.”
He said the process would involve a thorough review and comparison of the offers in consultation with Morgan Stanley, KordaMentha’s sale advisers.
Arrium owns Whyalla’s steelworks – the central employer in the Iron Triangle town.
Treasurer Tom Koutsantonis said he was “optimistic that a successful sale of Arrium will secure the long-term prosperity of Whyalla and enhance the steel making industry in Australia”.
“The State Government has committed $50 million to be invested in steelmaking infrastructure in Whyalla,” he said in a statement.
“With just weeks left before the sales process is finalised now is the time for the Federal Government to also make a substantial commitment to the 3000 jobs that depend on the steelworks and mine in Whyalla.”
– with AAPJump to next article