ANNOUNCED AS TEMPORARYNo
Bailout (capital injection or equity participation)
On 3 July 2017, the regional government of Victoria announced its intention to purchase Heyfield timber mill in order to secure jobs. After intense negotiations, the official purchase was announced on 15 September 2017.
Although no official statement has confirmed the exact investment amount, it is assumed that the total investment amounted to at least AUD 40 million (USD 32 million at the time of the bailout) as this was the initial quantity offered to Australian Sustainable Hardwoods to save the mill. However, this amount was rejected as it was considered a poor offer.
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