# Korean consortium selected as preferred bidder for Arrium

A Korean consortium led by Newlake Alliance Management and JB Asset Management, supported by POSCO, was selected as the preferred bidder for Arrium, which runs the Whyalla steelworks in South Australia.

- Type: Acquisition
- Announced: 2017-06-15
- Where: Whyalla, South Australia, Australia
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [POSCO](https://endata.com/companies/8856.md) (investor)
- [Arrium](https://endata.com/companies/23054.md) (target)
- [Newlake Alliance Management](https://endata.com/companies/24921.md) (acquirer)
- [JB Asset Management](https://endata.com/companies/24922.md) (acquirer)

## Sources

- [abc.net.au](https://www.abc.net.au/news/2017-06-15/korean-consortium-selected-as-arriums-preferred-bidder/8622140), 2017-06-15: "The investment proposal put forward by the Newlake Consortium aims to make Whyalla the first city outside of South Korea to adopt the innovative FINEX process for steelmaking developed by POSCO."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.