Wednesday, July 13, 2011

Aprin's Bizzare reaction to Triabunna sale loss....and questions for the Tas Govt.

Every day in Australia businesses compete with each over asset purchases. There are winners and losers.
However i have never seen a reaction by a beaten buyer like that which we saw today from Ron O'Connor of Aprin. Check it out  Here.

Listen to more on the sale here and Here (story at 18mins to go on audio file)
1. ABC reported Aprin's offer for the Triabunna mill was $16M. It has also been reported that theTas govt's loan to Aprin was $6M.

2. Gunns have sold the mill today for $10M. Aprin have said today that they could have also paid Gunns $10M.

3. This begs the question, why were the Tas Govt stumping up $6M?

4.Was the Government's $6M a component of Aprin's $16M offer. If so why were the Tasmanian Government stumping up an extra $6M more than what was needed by Gunns to sell the mill?

5. Was this $6M in fact a proxy tax payer funded donation/golden handshake for Gunns? Especially as we also know that it was the Tas Govt who approached Aprin to apply to the govt for a loan.

1 comment:

  1. Pretty sure it was just a question of who could put money on the table fast at a time when Gunns has some credit coming due. Gunns is pure trouble right now.