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Great Southern subsidiary submits offer

The managers of Great Southern's funds management arm have reportedly made an offer to the receivers of the collapsed agribusiness to take back ownership of their business.

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Sydney
Regarding paragraph three, GSFM is actually not in receivership (or administration). See the ASX announcement here: http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00955384 or any of the tables of effected subsidiaries published in documents produced by either the administrators or receivers. Given that GSFM is owned by GSL, and that GSL is in receivership, the receivers control the shares of GSFM and can sell the company as they would any other asset of GSL.

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