The sale of the failed steelmaker Arrium is expected to be finalised by mid-year, with two potential bidders still negotiating for the company, the receiver KordaMentha said on Thursday.
The company collapsed in April 2016, burdened by more than $4 billion in debt as low steel prices left the company listing.
Late last year, the steelmaker sold its Moly Corp unit for $1.6 billion which helped to reduce its borrowings as talks continued for the sale of the group's steel operations in South Australia, Melbourne and Sydney.
Two bidders have been shortlisted, the receiver said, with the sale to follow the receipt of unconditional bids for the company.
