GFG Alliance

Independent Financial Auditor Opens Investigations Into GFG Alliance’s Aluminium And Steel Holdings

Independent Financial Auditor Opens Investigations Into GFG Alliance’s Aluminium And Steel Holdings

Britain’s independent financial auditing regulator begun last week four different investigations into Sanjay Gupta’s Gupta Family Group (GFG) Alliance’s aluminium and steel companies and the audits of their books carried out by an outside auditor. The Financial Reporting Council said it is...

Events

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 in misuse of corporate assets and money laundering, among other charges. This week’s revelation is yet another blow to GFG Alliance, which has been navigating the stormiest of seas since major financial backer Greensill Capital […]

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 million in debt and US$60 million in hedging liabilities. Aluminium Dunkerque Industries France SAS (formerly Liberty Industries France SAS) refinanced the debt with American Industrial Partners Capital Fund VII, L.P., whom GFG Alliance and its […]

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 (AIP) that occurred last week due to GFG Group’s default on a loan to AIP. GFG said in a statement that it will pursue legal avenues against AIP’s transfer, accusing it of acting in bad […]

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 […]