The Oswals left Australia after receivers were appointed in December and their Australian assets – including a private jet , a million dollar mansion and their billion dollar company Burrup fertilizers – were frozen and became part of a receivership in February.
Burrup fertilizers sale sham
Bids for Burrup fertilizers who has had Receivers appointed are understood to be due by May 30. Mr Oswal said this was proof the bank wanted to force a sale below market price and indicated that ANZ and YARA ( the part owner of Burrup) had colluded to get s discount price for the billion dollar company under receivership.
“Given this ridiculously short period that international and local buyers have been given to consider a multi-billion dollar asset, conduct their due diligence, and submit a bid, it seems clear that the process is designed to eliminate genuine competitive buyers and facilitate the purchase by Yara at below market value,” he said in the statement.
Recievership bids for Burrup fertilizers
Mr OSWAL SAID “I reiterate my previous comments that I believe ANZ, PPB Advisory, and Yara (International, a company with a 35 per cent holding in Burrup) have colluded to force me to sell at a rock bottom price.
The sales process is being conducted exclusively by Flagstaff, a small Melbourne advisory firm, Flagstaff is chaired by Charles Goode, an ex-chairman of the ANZ Bank. The oswals said that it is further evidence that the sales process is a sham designed to facilitate a hasty sale to Yara.