Rex is set to leave voluntary administration and avoid a government takeover after being sold to a US-based buyer.
“As outlined in Rex’s ASX release on 17 June 2025, the Administrators have received a number of offers from interested parties in connection with the process for the sale and/or recapitalisation of the Group,” the administrators wrote.
“Having considered those offers as part of the sales process, the Administrators are pleased to confirm they have now entered into a Sale and Implementation Deed with Air T, Inc., which will result in the sale and recapitalisation of the business operations conducted by the Group.
“No return to shareholders is anticipated. An update will…