Business
Sanjeev Gupta rushes to raise cash as steel empire totters – The Australian Financial Review
GFG Alliance is seeking to shore up its finances as it looks for alternative long-term funding after the collapse of Greensill Capital.
GFG has stepped up self-help measures to stave off financial collapse, according to people familiar with the situation. These include selling stocks of scrap metal and accelerating the sale of finished goods to help raise working capital.
The company is also in talks to raise money against those assets outside Britain that have no debts against them. The cash raised could then be transferred back into the UK operations, one person said. GFGs most valuable asset is believed to be InfraBuild, its…
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