AUSTRALIA: Three bidders vie to buy Blue Ribbon meat business
At least three proposals have been filed to take over beleaguered Tasmanian meat processor Blue Ribbon since the group was placed in voluntary administration last month.
The vying proposals will be tabled at a creditors' meeting to be held tonight [11 September] in Launceston. They are believed to have been submitted by Melbourne's BRG Capital Facilitation, Chinese company Guangdong Jinli and NSW meat processor Bindaree Beef.
Blue Ribbon has debts amounting to A$13.3m (US$6.8m), although buyers have been encouraged by how good business currently is, CEO Ray Joy said last month.
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