EnergyLiberty Steel to sell UK assets, in talks with Credit Suisse
Reuters
2 minute read
The Liberty Steel flag flies over the steel plant in Dalzell, Scotland, Britain April 8, 2016. REUTERS/Russell Cheyne/File Photo
Tycoon Sanjeev Gupta s Liberty Steel Group said on Monday it would sell several UK assets and was holding talks with Credit Suisse about a standstill deal for its Australian unit after the collapse of Liberty s key lender Greensill Capital.
Gupta s family conglomerate had been seeking refinancing of its cash-starved web of businesses in steel, aluminium and energy after supply chain finance firm Greensill filed for insolvency in March.