SYDNEY: Autocycle International Pty Ltd has acquired key operational assets of Entyr Limited’s Stapylton tyre recycling facility for A$450,000, administrators said on Friday, as the insolvent company continues its restructuring process.
The transaction, completed by Alvarez & Marsal Australia, includes the sale of plant and equipment, assignment of the facility lease, and transfer of environmental authority from the Queensland Government. No intellectual property or intangible assets were included in the deal.
Entyr (ASX:ETR) entered voluntary administration in April, with Jason Tracy and Stephen Edds appointed to oversee the process. The administrators said the sale followed a targeted marketing campaign and reflects fair market value.
Proceeds will be distributed according to the Corporations Act 2001 (Cth), though unsecured creditors are not expected to receive a return.
The transaction does not require shareholder approval and no ASX waivers were sought.