Gunns bids for Timbercorp assets

Gunns bids for Timbercorp assets

Hobart-based timber company Gunns has applied to acquire assets once owned by the now bankrupt Timbercorp.

Gunns has proposed to purchase assets including land, trees and a forestry operations business from the defunct company’s liquidators, the company informed the ASX.

Gunns expects to acquire the assets in conjunction with a joint venture partner. The parties believe they will reach an agreement by September 30.

Timbercorp was placed in voluntary receivership in April this year.

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Tags Bankruptcy Gunns Wood

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