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Sanjeev Gupta businesses in Australia face Credit Suisse insolvency ...
Thu, 08 Apr 2021 09:00:00 GMT
Credit Suisse seeks to wind up two entities - Onesteel Manufacturing, which operates the Whyalla steel operation in South Australia, and Tahmoor

Liberty ore/nickel sales raise conduct questions
Thu, 08 Apr 2021 00:00:00 GMT
London-headquartered metals trader Liberty Commodities, part of the vast Gupta Family Group Alliance of companies owned by UK businessman Sanjeev Gupta, made multiple sales of nickel and iron ore pellet to Indian cold-rolled and hot-dip galvanised coil steel producer Uttam Galva between July 2014 and October 2015, according to documents obtained by Argus

Liberty Steel's Romanian subsidiary needs EUR 100 mln to buy ...
Wed, 07 Apr 2021 10:00:00 GMT
Liberty Galati, the Romanian subsidiary of Liberty Steel - part of GFG Alliance controlled by Indian businessman Sanjeev Gupta - urgently needs EUR 100 million to purchase the CO2 certificates that it sold last

Concerns over future of Lanarkshire steel workers as Liberty ...
Tue, 06 Apr 2021 11:24:00 GMT
Workers at the Clydebridge steel plant face an anxious wait over their futures as the financial problems of its parent company continue. GFG Alliance's owner, Sanjeev Gupta, has insisted that no plants 'will close under my watch' after his financial backer, Greensill, collapsed earlier this year. The UK Government then knocked back Mr Gupta's claims for a £170 million bailout to support the company, while other investors have started

Sanjeev Gupta gearing up for war over steel empire
Sun, 04 Apr 2021 10:50:00 GMT
Industrial tycoon Sanjeev Gupta has drafted in a 'barrage' of lawyers to defend his steel empire as a crisis at its biggest lender threatens to engulf him. Gupta's GFG Alliance, which owns Liberty Steel in the UK, is holding emergency talks to secure new financing and save 5,000 British jobs after the collapse of Greensill

Liberty Steel boss: Plants won't shut on my watch
Thu, 01 Apr 2021 10:05:00 GMT
Liberty Steel owner Sanjeev Gupta has claimed that none of his plants will shut 'under my watch' as he races to refinance his business after the collapse of financial backer

Greensill collapse risks future of Liberty Steel
Wed, 31 Mar 2021 00:00:00 GMT
The demise of Greensill Capital earlier this month has put the future of Liberty Steel into doubt, as the supply chain finance company helped prop up Britain's third-largest steel manufacturer, amongst other

UK government awaits GFG refinancing, prepared for collapse
Wed, 31 Mar 2021 00:00:00 GMT
The UK government wants to see what new financing GFG Alliance can arrange before taking any action to support its UK plants. But officials are prepared to let Liberty Steel collapse into administration before stepping in, says UK business secretary Kwasi Kwarteng. Its an important national asset and what we have to do is

Unions fear huge job losses as saviour of steel hits crisis
Thu, 04 Mar 2021 00:00:00 GMT
Union sources have told the BBC that they are very concerned about the potential risk to thousands of UK steel and engineering jobs. Their fears follow the emergence of financial problems for the owner of plants at Rotherham, Stocksbridge, Newport and Hartlepool. Called the saviour of steel, Sanjeev Guptas Liberty Group bought up the struggling UK steel businesses. His GFG Alliance company said it had adequate funding. There are 3,000 direct steel employees and a further 2,000 in

Suppliers request cash upfront from Liberty Steel
Wed, 03 Mar 2021 00:00:00 GMT
Some raw material suppliers to Liberty Steels European and UK operations are limiting their exposure to the company, and in some cases demanding cash in advance before making sales. Scrap suppliers to Liberty Speciality want cash upfront before delivery, while others including iron ore suppliers are doing the same to rolling lines

EU steel still open for consolidation after ThyssenKrupp-Liberty ...
Fri, 19 Feb 2021 00:00:00 GMT
The European steel industry still has room for consolidation within its ranks, the former director general of European steel distribution association EUROMETAL said Feb 18, a day after ThyssenKrupp said it had pulled out of sales talks for its European steel unit with Liberty Steel. Whatever is the outcome of the ThyssenKrupp deal, the

Liberty Steel's funding plan for Thyssenkrupp lacks clarity -IG ...
Thu, 04 Feb 2021 17:22:04 GMT
DUESSELDORF Reuters - A bid by Britain's Liberty Steel for the steel division of Germany's Thyssenkrupp (DE:TKAG) still lacks clarity on financing, a leader for the powerful IG Metall union

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