Six bids for Gunns' assets: KordaMentha

SIX bids have been received for assets belonging to failed timber company Gunns, including two from parties interested in the former company's Long Reach pulp mill licence.

Potential asset buyers had until the close of business yesterday to lodge their bids to company receiver KordaMentha.

KordaMentha spokesman Mike Smith said there had been six bids for the forestry business, which included 100,000 hectares of land and hardwood and softwood plantations, and two bids for the pulp mill licence.

He would not name the parties but said the bids came from the United Kingdom, the United States, Asia, and Australia.

Mr Smith said the receivers would analyse the bids over the next few weeks and negotiate sale agreements.

Gunns went into receivership in September 2012 with secured debts of $560 million and net assets of just $24 million.


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