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Administrators eye sale of McAleese units

AAP logoAAP 13/11/2016

The administrators of mining services company McAleese expect to find buyers for large parts of the embattled group's four business units.

McGrathNicol administrators on Monday said they had received interest for McAleese's specialised transport, oil and gas distribution and aviation refuelling and resources businesses, as well as some profitable depots that form part of the heavy haulage and lifting business.

McGrathNicol said it hopes to convene the second meeting of McAleese creditors in December. The group was placed in voluntary administration in August after failing to secure a lifeline from Hong Kong-based debt trader SC Lowy.

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