Australia's Arrium plans sale of Moly-Cop unit -administrator

May 23, 2016 7:34 AM

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SYDNEY May 23 Australian steel group Arrium Ltd , now in voluntary administration, will hire a global investment bank to advise on the sale of its Moly-Cop mining supplies unit, the company's administrator said.

The move is part of planned recapitalisation and sale of Arrium's assets, which also include steel production and distribution businesses, according to the administrator, KordaMentha Restructuring.

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