Arrium Goes Out on the Road in Search of a Buyer
08/23/2016 - Executives of Australian steelmaker and iron ore miner Arrium are in Asia this week, shopping around the debt-laden business in advance of the release of the formal sale documents, reports The Australian Financial Review.
Arrium is going on the sales block after collapsing under the weight of nearly AU$3 billion in debt in April, when it was placed into voluntary administration.
Company officials are said to be meeting with major Asian steelmakers, including Baosteel, POSCO and Nippon Steel & Sumitomo Metal Corp., in an attempt to drum up interest in the business, according to The Financial Review.
The Financial Review has more on the story here.
Company officials are said to be meeting with major Asian steelmakers, including Baosteel, POSCO and Nippon Steel & Sumitomo Metal Corp., in an attempt to drum up interest in the business, according to The Financial Review.
The Financial Review has more on the story here.
