Tuesday 13 November 2018
Home      All news      Contact us      India
business-standard - 4 days ago

British-Indian steel tycoon seals financing pact to acquire Europe s largest aluminium smelter

UK-based Liberty Steel, which is part of Indian-origin business tycoon Sanjeev Gupta s global GFG Alliance, on Friday announced that it has entered into a committed financing agreement with a syndicate of major international banks for buying Aluminium Dunkerque, the Europe s largest aluminium smelter, from Rio Tinto. Without divulging the names of the banks, the company said the term loan secured on standard financial terms provides five-year committed funds. The pact now clears the way for the deal, on the 560-worker site in France, to be formally completed before the end of November following the completion of closing mechanics. I am very pleased to have completed this committed facility with a broad range of leading banks allowing Liberty to complete this landmark transaction, Sanjeev Gupta, executive chairman of the GFG Alliance. It allows us to press ahead with our plans to develop Dunkerque, to expand production and create added-value downstream operations. This agreement ...

Related news

Latest News
Hashtags:   

British

 | 

Indian

 | 

steel

 | 

tycoon

 | 

seals

 | 

financing

 | 

acquire

 | 

Europe

 | 

largest

 | 

aluminium

 | 

smelter

 | 
Most Popular (6 hours)

Most Popular (24 hours)

Most Popular (a week)

Sources