Liberty Steel £50m cash injection to save 660 jobs Liberty Steel £50m cash injection to save 660 jobs Liberty Steel has secured a £50m cash injection which would allow its Rotherham plant to reopen this month after it has been closed since spring. Liberty’s owner, GFG Alliance, has agreed debt restructuring with Credit Suisse. It was forced to seek funding after the collapse of its key lender, Greensill Capital. The cash injection will [...]
Sanjeev Gupta launches legal action over US PE group’s ‘predatory’ seizure of aluminium smelter Sanjeev Gupta launches legal action over ‘predatory’ seizure of smelter Sanjeev Gupta’s GFG Alliance has vowed legal action to scotch what it called a “predatory” attempt by US private equity group American Industrial Partners (AIP) to take control of the largest aluminium smelter in Europe. Buyout firm AIP said last Friday that it had acquired ownership of the aluminium smelter in Dunkirk after a unit [...]