The South Australian government has ruled out taking an equity stake in the stricken Whyalla steelworks after setting aside $384 million of provisions in the state budget in 2025-26 because of a longer-than-expected sale process.
Treasurer Stephen Mullighan said the provisions were a safeguard as the complex administration and sale process undertaken by KordaMentha played out, warning it could take until the end of calendar 2025 for a new buyer to be found.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
