Sanjeev Gupta’s GFG Alliance Under Investigation By French Officials For Dunkirk Aluminium Smelter Funding Deal
Sanjeev Gupta’s GFG Alliance is facing an investigation by French authorities into allegations that the firm may have been involved...
ALVANCE Aluminium Dunkerque
Dunkirk Aluminium Smelter To Cut Production By 15 Percent Due To Jump In Energy Prices
The largest aluminium smelter in France is cutting production by 15 percent due to the continued rise of electric prices. On Friday, a spokesperson for the Dunkerque aluminium smelter made the announcement, noting that production has already been dropped by a tenth....
Aluminium Dunkerque Refinances Financing Agreement With AIP As Sanjeev Gupta Files Suit
Europe’s largest aluminium smelter announced last week the successful completion of a refinance of its financing agreement, which includes US$235...
GFG Promises Legal Action Against AIP To Regain Dunkirk Aluminium Smelter
GFG Group pledged on Tuesday to fight back against an ownership transfer of Dunkirk aluminium smelter to American Industrial Partners...
Events
Sanjeev Gupta Loses Dunkirk Aluminium Smelter To AIP
The largest aluminium smelter in Europe is now owned by American Industrial Partners after the firm bought the asset from struggling Sanjeev Gupta’s GFG Alliance last week. In a statement released to the media, AIP said it gained title to the plant after foreclosing on shares pledged by GFG Alliance to AIP in a mezzanine-financing […]
GFG Alliance In Talks With Glencore Over Refinancing Aluminium Assets’ Debt
The struggle to keep Gupta Family Group Alliance’s assets funded continued last week as its head Sanjeev Gupta continued talks with Glencore plc to refinance the debt of GFG Alliance’s aluminium assets in Europe. Sources told AlCircle over the weekend that Glencore is in talks with GFG Alliance to refinance its over US$500 million in […]
GFG Alliance Reaches Standstill Agreement With Credit Suisse On Australian Assets
Gupta Family Group Alliance and Credit Suisse have reached a standstill accord on its Australian plants yesterday that will allow the two parties to come to terms with the collapse of GFG’s financier Greensill Capital. GFG said in a statement that it expects the pause to give it time to sort out the issues surrounding […]
GFG Alliance Seeking Payment Pause For Debt Payments To Troubled Backer Greensill
In response to concerns raised by an insolvency filing by one of its financial backers, GFG Alliance leader Sanjay Gupta said his firm is in discussions with its administrators regarding an agreement to pause payments to the troubled firm. On Friday, Gupta relayed internally that it was seeking a standstill agreement from Greensill Capital’s administrators, […]
Liberty Steel Labor Reps Seek Assurance From GFG Alliance After Insolvency Of Major Financial Backer
Representatives from British trade unions seek to meet with officials at Liberty Steel after one of GFG Alliance’s major backers signaled financial trouble by entering into administration. On Monday, Greensill Capital filed insolvency paperwork with local courts. The financial firm lost insurance and investor funding for its own supply chain business last week. Gupta Family […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
