Liberty to merge steel businesses, boost transparency - Gupta

摘要

London—Liberty House Group will integrate its steel businesses into one UK-based financial and legal entity named Liberty Steel Group by year end, not as a rationalization, but in an action “about bringing the group together, presenting a consolidated, transparent and homogeneous entity to the world,” said Sanjeev Gupta, executive chairman of Liberty’s parent company, GFG Alliance. The “stronger, balanced” structure of the consolidated group will facilitate financing, including structured financing, Gupta said in an interview with S&P Global Platts, prior to the annnouncement of the consolidation early Tuesday. The executive recognized that the family-type business that had invested globally to encompass more than 30,000 employees in 10 countries had been criticized for having become “unwieldy to operate on that model” and that there had been “demand from stakeholders to make this easier to understand.”