Burrup, whose main shareholder is the Oswal Group of India, went into receivership last year, owing more than $800 million to ANZ Bank, according to local media. The oswals company that went into receivership “Burrup fertilizers” have got a strong interest from bidders. Ths oswals who departed australia around the time the news of the receivership broke out for Burrup fetilisers are now living in the middle east pursuing new business interests. The oswals claimed that ANZ, PPB and his former Burrup Fertilisers partner Yara were "colluding" to force him to sell his shares in the plant at "rock bottom price". Results of the bidding process could shed some light on this accusations.
Companies which submitted bids included conglomerate Wesfarmers , Orica and Incitec Pivot , a source familiar with the matter said. China state-owned fertiliser group Sinofert and Egypt’s Orascom Construction had also taken a look, according to sources.
Bidders for Burrup Fertilisers had until May 30 to lodge offers for the 65 per cent stake in Burrup Holdings which owns a 760,000 tonnes-a-year ammonia plant in Western Australia