The sale of Whyalla's steelworks to a British company has been formally approved by its creditors, leaving the path free for foreign investment on South Australian soil.
Liberty House, which is part of London-based GFG Alliance, was earlier this month announced the winning bidder for Arrium.
Arrium was placed into voluntary administration by its directors in April 2016 and its sale subject to approval by a committee of creditors, which today gave the green light to Liberty House's bid.
Arrium's administrator KordaMentha said the approval removed the "last significant hurdle to completion of the proposed sale".
Partner Mark Mentha said the sale also required approval for the transition of workers' compensation coverage to GFG Alliance along with "finalisation of accounting restructure steps".
He said the approvals were expected before August 31.
The Federal Government has already given the OK to foreign investment.
Mr Mentha said the sale "would end a remarkable 16-month administration marked by its complexity, a volatile trading environment and an extraordinary effort by all stakeholders to maintain the business and preserve a future for Whyalla".
