Liberty Steel announces restructuring and inventory of UK assets

“As part of this restructuring, Liberty wants to sell its specialty alloys and aerospace steel business to Stokes Bridge in the north of the UK”, considered “unique and high quality assets”, but the group has “no vision”, especially in terms of its “vision of less polluting steel” With, said in a press release on Monday.

He adds that formal sales of “infrastructure from Stokesbridge” and others to Princesworth and West Bromwich in the north of the UK will “start soon”.

Liberty, a subsidiary of Sanjeev Gupta’s family holding company GFG Alliance Group, explains that Sanjeev Gupta “held some very constructive meetings in Dubai this weekend” between its new restructuring and transformation team and Credit Suisse Property Management. Greensill’s debtors and GFG and Liberty, who owed money to the now bankrupt company, returned.

The press release announces “a deal” on Liberty’s primary metals business in Australia “at the same time the refinancing ends, which will fully repay the credit choice.”

The panel also notes that Liberty Aluminum Technologies and two other factories in the UK, Liberty Pressing Solutions, have “already begun a formal sales process”.