After Tata And Arcelormittal, Liberty House Looks To India To Acquire Stressed Assets


After Tata And Arcelormittal, Liberty House Looks To India To Acquire Stressed Assets

As part of its expansion plans, Liberty House Group, which acquired the speciality steel business of Tata Steel in the UK for £100 million, has evinced interest to buy out stressed asset being put on the block under the National Company Law Tribunal-led process.

The UK-headquartered Group, promoted by Indian-origin entrepreneur Sanjeev Gupta, is keen on making a play for mid-sized distressed assets and turning them around by pumping in fresh capital, said sources in the banking sector, The Hindu reported.

The 12 companies that are in the NCLT-led resolution for stressed asset are Essar Steel, Bhushan Steel, Electrosteel Steels, Amtek Auto, Bhushan Power and Steel, Alok Industries, Monnet Ispat, Lanco Infra, Era Infra, Jaypee Infratech, ABG Shipyard and Jyoti Structures. Read More…

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