Page 3 - Jeff Kabel News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The February 24, 2022 edition of Tech Today—Michigan Technological University's daily internal newsletter. Tech Today is produced by University Marketing and Communications.

Sanjeev Gupta has signalled the break-up of his steel empire in a move that throws Britain's struggling industry deeper into crisis. The tycoon has appointed four new directors at Liberty Steel to lead a committee that will be given the freedom to sell underperforming parts of the company. This will raise fears that Liberty's UK arm could be split up and sold off. Gupta's wider group of business, the GFG Alliance, which includes Liberty, has been on the brink since its main lender Greensill Capital went bust at the start of March. Sell-off: Sanjeev Gupta (pictured) has appointed four new dir...

Liberty Steel has hired a team of specialist directors to its board to accelerate the group’s overhaul and refinancing after its backer Greensill Capital went bust. The company said the four new directors will make up a new restructuring and transformation committee, which will be given independence to restructure Liberty and either fix or sell off under-performing divisions. Concerns were raised over Liberty’s future after Greensill collapsed in March. Greensill was the largest lender to steel magnate Sanjeev Gupta’s GFG Alliance – the parent company of Liberty Steel – and its fail...

Liberty Steel appoints new restructuring committee as firm seals deal for Australian steelworks (Getty Images) Sanjeev Gupta’s Liberty Steel has today announced that it will set up a restructuring committee made up of four new directors in a bid to refinance the group after the collapse of Greensill in March. In a statement, the firm, which is a subsidiary of the tycoon’s GFG Alliance, said that the new execs would “be given full autonomy to restructure Liberty’s operations to focus on core profitable units, and either fix or sell underperforming units”. The appoint...

No one can accuse Liberty Steel boss Sanjeev Gupta of giving up the ghost. Faced with the collapse of his main lender Greensill and a refusal by Business Secretary Kwasi Kwarteng to provide £170million of rescue loans, he is hanging on by his fingertips. In the latest moves to shore up his global empire, GFG Alliance, he is reported to have found funding for his Australian operations and has brought in experts to see what can be salvaged in terms of steel making in the UK. The rescue team may be assisted by surging steel prices across the world as Covid retreats, demand surges and production...