Publishing date: Mar 07, 2021 • March 7, 2021 • 3 minute read •
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(Bloomberg) Over the past decade, Sanjeev Gupta has built a reputation as one of the globe’s biggest boosters of steel, sealing a slew of deals for mills and smelters from Romania to Australia while racking up billions in debt for moribund assets that few others wanted.
The former commodities trader has sketched out a vision of a greener future for steel, with his loose network of companies GFG Alliance leading the way. But the near-collapse of his biggest lender, Greensill Capital, has abruptly choked off a key source of funding and is threatening that pace of breakneck expansion.