UK’s Liberty Group buys bankrupt SBQ Steels
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Synopsis
Liberty paid Rs 262.45 crore plus interest of Rs 8 crore to take the Nellore based steel company, its second acquisition through the bankrutpcy process after acquiring the bankrupt Adhunik Metaliks and its associate Zion Steel in February 2020 under the insolvency law in a Rs 425 crore cash deal.
Agencies
The steel plant also has two power plants with 45MW capacity each.
Mumbai: The UK based Liberty group has acquired the bankrupt 0.25 million tonne SBQ Steels, culmulating a three year process in which the company was put into liquidation after inital efforts to sell it failed.
Liberty Group buys SBQ Steels in its second bankruptcy acquisition
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Share
Synopsis
Liberty paid Rs 262.45 crore plus interest of Rs 8 crore to take the Nellore based steel company, its second acquisition through the bankrutpcy process after acquiring the bankrupt Adhunik Metaliks and its associate Zion Steel in February 2020 under the insolvency law in a Rs 425 crore cash deal.
Agencies
The steel plant also has two power plants with 45MW capacity each.
Mumbai: The UK based Liberty group has acquired the bankrupt 0.25 million tonne SBQ Steels, culmulating a three year process in which the company was put into liquidation after inital efforts to sell it failed.