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Great Southern

Tasmanian timber company Gunns has been best known over the past couple of years for its controversial plan to build a timber mill in Tasmania’s Tamar Valley, but the focus has now shifted to a possible acquisition of Great Southern’s forestry assets. Gunns, the Black Tree consortium backed by the Bunnings family and advised by Azure Capital, and Perth’s Pulpwood Plantations – set up specifically to invest in Great Southern assets – have expressed interest in the collapsed agribusiness’ assets. Gunns, which already runs 15 managed investment schemes, has been named the preferred new manager by receiver McGrathNichol. The groups will hold separate meetings to allow voters to decide the fate of the schemes. Should none of the proposals get the go-ahead, the schemes could be wound up and the land sold. Earlier this month, Gunns named Swedish forest products group Södra as one of the parties in talks to take a 40 per cent stake in its proposed Bell Bay pulp mill.