Sun Cable sale process starts

Moelis will serve as the sale advisor.

The sale process for Sun Cable has commenced with the appointment of MA Moelis Australia and Moelis & Company LLC as sale advisors, according to voluntary administrators FTI Consulting.

In a statement, FTI Consulting said it is looking for binding proposals for the sale of the company by end-April expected to be completed no later than end-May 2023.

Moelis will start inviting offers for the sale or recapitalisation of Sun Cable.

Interested parties who wish to express an interest should contact Moelis for details.

FTI Consulting also said that it has secured funding for the continued development of Sun Cable’s project which the sale process is ongoing.

Sun Cable has a total of 121 employees across Australia, Indonesia, and Singapore.