Gunns portfolio garners strong interest report

Both local and offshore parties are interested in a portfoilio of nine Gunns managed investment schemes, according to PPB Advisory, the liquidators of the group, The Australian reports.

According to the newspaper, the liquidators defended the proposed sale despite further objections from investors. PPB flagged a robust and competeitve sales process with a time frame of three to four months.

"Encouragingly, we have already received a strong level of interest from a variety of domestic and international parties, despite not yet having advertised the grower trees for sale or formally commenced the sale process," the firm said, according to The Australian.

The group Gunns Growers opposes the sale, saying PPB would conduct a firesale.