More than 15 national and international parties have passed the final expression of interest phase for the Whyalla Steelworks, in a positive sign for the steelmaker's transition to new ownership and the future of sovereign steelmaking.
The final expression of interest stage of the sale process closed on Friday, with sales advisor 333 Capital reporting interest from credible parties from around the world.
333 Capital will now move to solicit indicative bids from shortlisted parties that have expressed interest. At this point in the process, with interest from multiple credible parties, there is no preferred bidder.
The State and Federal Governments continue to provide support to the administrator of the Whyalla Steelworks, and just last month announced a further $275 million to maintain safe operations, pay wages and suppliers, and undertake critical works to strengthen the steelworks positions as a viable long-term asset for a new owner.
This investment gives the Administrator and sales advisor 333 Capital time to progress negotiations and find the right long-term owner, while ensuring the people of Whyalla are backed every step of the way.
The State and Federal Governments also have funding on the table for necessary upgrades and new infrastructure, in collaboration with a new owner, to ensure the steelworks has a sustainable, long-term future.
As put by Peter Malinauskas
The State Government's objective has been to transition the ownership of the steelworks to a new credible owner who can invest in Whyalla's future.
This strong interest is a positive sign for the future of the Whyalla Steelworks and for the future of sovereign steelmaking capability in Australia.
Most importantly, this is good news for Whyalla, for our state and for the thousands of people who rely upon the steelworks.
As put by Tom Koutsantonis
This strong field of credible bidders is a clear vote of confidence in Whyalla, its workforce, and the future of Australian steelmaking.
We are determined to see Whyalla thrive - and that means finding the right owner with the vision and capacity to invest for the long term.
