KordaMentha has announced that GFG Alliance will be the new owner of the Arrium companies, which includes the Whyalla steel works.
GFG Alliance is an international grouping of businesses, founded by the British Gupta Family. GFG has executed a share sale agreement with KordaMentha and the agreement for the purchase is subject to approval by the Foreign Investment Review Board.
Minister for Industry, Innovation and Science, Arthur Sinodino said it is a welcome development and provides certainty for the workers at Arrium, the people of Whyalla and the future of the Australian steel industry.
“I have worked closely and constructively with the SA Government and KordaMentha on this outcome. The Turnbull Government is determined to achieve a sustainable and globally-competitive steel industry in Whyalla to be benefit of the people of Whyalla, South Australia and the nation.”