Deal to refinance loans previously extended by Greensill could save thousands of jobs
The metals empire owned by the industrialist Sanjeev Gupta said it has agreed terms on new financing for a key part of its business located in South Australia, potentially staving off a threat to thousands of jobs.
GFG Alliance said on Wednesday that Liberty Primary Metals Australia (LPMA), which includes a mining and steel business in Whyalla and a coalmine at Tahmoor, had agreed a deal to refinance loans previously extended by Greensill, the financial firm that collapsed into administration in March. It also said it would consider selling some parts of the business.
