Sanjeev Gupta is fighting to save his sprawling empire after Greensill Capital, its biggest lender, collapsed into administration.
While the markets for GFG Alliance’s steel mills and aluminum smelters are buoyant, a court filing revealed on Monday that Gupta’s group had told Greensill in February that it would be insolvent without its funding.
That casts a shadow over operations that employ about 35,000 people across 30 different nations. Some of those assets may be snapped up, but for others Gupta dubbed the “savior of steel” was the only bidder last time they were offered for sale. These are the most important assets and their significance for both local economies and international markets.
L Etat au chevet de l usine Liberty Steel
wort.lu - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wort.lu Daily Mail and Mail on Sunday newspapers.
Centre Presse : Vienne : 48 heures après, les salariés de la Fonderie Fonte ont
centre-presse.fr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from centre-presse.fr Daily Mail and Mail on Sunday newspapers.
UK firm Greensill Capital has been placed into administration. Here s what it could mean for Whyalla
WedWednesday 10
updated
WedWednesday 10
MarMarch 2021 at 1:34pm
Lex Greensill s Greensill Capital was valued at $9 billion last year and appointed administrators in England and Australia this week.
(
Share
Print text only
Cancel
A wealthy businessman s fall from grace has caused ripple effects across the world, and in Whyalla the feeling is they are not going to be immune from the contagion .
Here s what it could mean for Australia s second largest steelworks.
What s going on?
One of those is Sanjeev Gupta s GFG Alliance owner of the Whyalla Steelworks.