Bain Capital and Cyrus Capital Partners have one last chance to impress Virgin administrator Deloitte.

Having presented their binding bids, each bidder will be interviewed by Deloitte on Tuesday before one is tapped for the final round of exclusive talks.

Bain is expected to pitch its funding and certainty that it can complete the deal. Cyrus is expected to pitch its position with unions and experience offshore.

Although there can be only one winner, Queensland's QIC Ltd has backed both. As Street Talk revealed on Monday, QIC signed terms with each bidder late on Sunday to promise a $200 million package including an equity cheque.

Elsewhere, Credit Suisse has kicked off an auction for OPTrust's $1 billion-plus buslines business, Kinetic.
Credit Suisse has told potential buyers OPTrust wants to see two bids. We have the details.

Happy reading,

Sarah Thompson, Anthony Macdonald and Tim Boyd

Street Talk Editors