Binding bids received for Gunns' sawmill assetsFriday 30 Nov 2012 The sale of Gunns Ltd.’s sawmills in Tarpeena, South Australia, and Bell Bay, Tasmania, could be imminent as five binding bids have been received and four of these are for all the assets of Gunns Timber Products, reported The Border Watch on 27 November.The total assets would include the two sawmills and the sales and distribution network, which supports the operations in various locations, said Mike Smith, spokesperson for KordaMentha, the receiver in the Gunns liquidation sale. Nearly all of the buyers are interested in expanding the operations where possible, he said, noting that the preference in selecting a buyer is to be given to those who bid for all assets of Gunns Timber Products, The Border Watch reported. It is expected to take about two weeks to review the bids and negotiate a sale, said Smith. The asking price for the sawmills, which were put up for sale and advertised in various publications worldwide in October, is not being publicly released. Source: The Border Watch |
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