Business
Steel magnate Gupta wins lifeline for Whyalla and Tahmoor – Sydney Morning Herald
GFG Alliance said the new financing arrangement would help it pay out the billions in debts it owes to Greensill in full.
Billionaire steel tycoon Sanjeev Gupta has won a reprieve on the potential closure of his Whyalla steel mill and coking coal mine in Tahmoor after his businesses brokered a deal with new lenders.
Mr Guptas Liberty Primary Metals Australia business which holds the companies that operate the Whyalla steel mill and the Tahmoor mine on Wednesday said the new financing arrangement would help it pay out the debts it owes to Greensill Capital in full.
The refinancing deal comes as Mr Guptas businesses…
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