Sanjeev Gupta locks $3bn InfraBuild deal after eleventh-hour legal settlement
Steel magnate Sanjeev Gupta finalizes an eleventh-hour settlement to retain control of his Australian steel asset, resolving a long legal dispute.
POLICY WIRE — London, United Kingdom — British-Indian industrialist Sanjeev Gupta has reached a last-minute agreement to maintain command of a critical Australian steel asset. The resolution concludes an extended legal conflict that threatened his remaining corporate holdings.
According to reports from Sky News, Gupta’s primary corporate vehicle, GFG Alliance, has agreed to a settlement with Grant Thornton UK. The firm serves as the administrator for Greensill Capital, which collapsed in 2021 over five years prior.
InfraBuild represents the most valuable component of Gupta’s diminished global steel empire, with an estimated valuation of 3 billion dollars.
The financial landscape surrounding the asset saw the bank arrange an asset-backed loan for InfraBuild in 2023. One year later, the company issued a high-yield bond.
This latest development follows Gupta’s broader efforts to stabilize his business interests. These measures include a legal claim asserting his ownership of the Australian producer and ongoing discussions with two lenders for additional financial support.
Gupta’s global steelmaking operations have yet to fully rebound from the implosion of Greensill Capital, a key financier for the group.
Reporting by Policy-Wire (PW)
