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...
GFG Alliance
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...
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...
Gupta Secures Future For Liberty Aluminium Technologies Via £10 MM Loan Repayment
Last week Sanjeev Gupta secured the solvency of a portion of Gupta Family Group Alliance’s aluminium assets last week by...
Events
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 […]
Business As Usual At Lochaber Aluminium Smelter As Fraud Probe Of GFG Commences
Aluminium smelting operations continue as usual at GFG Alliance’s Lochaber smelter despite an investigation into its parent company for serious financial crimes. On Friday the Scottish government’s Serious Fraud Office said it had begun an investigation into the firm for “suspected fraud, fraudulent trading and money laundering” related to the financing of GFG’s various companies. […]
Gupta Assures Market That Closures Of Aluminium And Steel Plants Will Not Happen On His Watch
Despite ever more ominous news coming from one of its biggest financial partners, GFG Alliance head man Sanjeev Gupta promised this week that plant closures would not occur “under [his] watch.” According to financial industry reporting on Thursday, the administrator handling Greensill Capital’s insolvency case has been unable to verify invoices showing loans to Gupta […]
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 ...
