Business
Gupta shakes up Liberty boardroom to tackle Greensill fallout – The Australian Financial Review
The British metals magnate has given a four-man team carte blanche to restructure his steel empire, including selling unprofitable assets.
This restructuring, combined with the continuing strength in steel and iron ore markets, will present a solid basis for the future of Liberty, the statement said.
Mr Guptas broader GFG Alliance, which also includes a global aluminium business, an energy business and a property portfolio, had borrowed as much as $6 billion from Greensill Capital.
GFG has been negotiating with Greensill Capitals administrators in Britain, Australia and Germany on a plan to manage these debts since the supply-chain…
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