The Government has announced the appointment of business and legal advisers for the scoping studies into future ownership options for Australian Hearing.
The advisors are:
PricewaterhouseCoopers Securities Ltd (business advisers) and
Herbert Smith Freehills (legal advisers)
These advisers will provide independent advice and recommendations around possible future ownership options ensuring the objectives for the scoping studies are met.
These objectives are to:
- maintain service and quality levels for customers and private investors including in regional and rural Australia
- ensure any recommended outcome/s treat Australian Hearing employees in a fair manner, including through the preservation of accrued entitlements
- minimise any residual risks and liabilities to the Government
- maximise the benefits to the Government.
If Australian Hearing is sold, the Government has said that all proceeds will be re-invested into productivity enhancing infrastructure through the Asset Recycling Fund.
The Government will consider the recommendations of the scoping studies as part of the 2015-16 Budget.
No decision on future ownership options for Australian Hearing will be made until then.