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Whyalla Steelworks Investors Circling

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Several investment funds are allegedly circling Whyalla steelworks, as the May 6 court hearing creeps closer.

Asset specialists White Oak Global Advisors, Bain Capital Credit and Oaktree Capital Group are all allegedly doing their due diligence on the 430-million-dollar Greensill debt tied to Whyalla’s owner GFG Alliance.

Bain, is known for buying Virgin Australia out of liquidation for $3.5 billion, and Oaktree, which scooped up the assets of Blue-Sky Alternative Investments after that company failed, could be interested in GFG’s Whyalla assets which include the steelworks, port, and iron ore operations.

Photo: By Spencer Gulf Broadcasters