Certainty for Whyalla as Arrium sale agreement signed

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South Australian Treasurer Tom Koutsantonis has welcomed the signing of a binding agreement to sell the Arrium companies, including the Whyalla operations, to London based GFG Alliance (Liberty House).

The sale is still subject to approval by the Arrium Committee of Creditors and the Foreign Investment Review Board, however the process is anticipated to be complete by August this year.

GFG Alliance, led by Gupta Family Group Executive Chairman Sanjeev Gupta, submitted a modified offer last night after the exclusivity period granted to the South Korean consortium Newlake expired on Friday with no deal reached.

The State Government will meet with Liberty House representatives on Thursday 6 July.