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LONDON (Reuters) -Liberty Steel owner Sanjeev Gupta cautioned creditors on Thursday against pulling the plug, saying he had garnered huge interest from financiers willing to refinance billions of dollars in debt owed to failed lender Greensill Capital.
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Gupta’s GFG Alliance conglomerate has 30,000 employees across the world but its Liberty Steel has been rocked by the collapse of Greensill, its main financial backer which had extended “many billions” of loans.
Gupta, who established Liberty Steel in 1992 while studying at Cambridge University, said it was natural that lenders wanted to protect their position, adding there were positive discussions with Grant Thornton, administrator for Greensill.
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