Canadian funds giant Brookfield makes 11th hour bid for Virgin Australia

Canadian asset manager Brookfield has made an 11th hour pitch to re-enter the race to buy Virgin Australia ahead of administrators Deloitte choosing a final shortlist of bidders over the weekend.

Four bidders – private equity firm Bain Capital, Melbourne outfit BGH Capital, American ultra-low cost airline specialist Indigo Partners and the Richard Branson linked Cyrus Capital – had until today to submit second-round offers for the collapsed carrier.

Deloitte is expected to choose two final bidders over the weekend. Credit:Getty

Brookfield, which manages $US515 billion ($800 billion) of assets around the world, walked away from the sale process last Monday over concerns that Virgin could run out of cash before a new owner was installed.

But sources close to the administration said Brookfield had submitted another proposal to rescue the airline to Deloitte on Friday, and believes the administrators will consider its against what the other parties submit.

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