As many as 440 jobs could be impacted by the plans, though Liberty will attempt to retain them through its furlough and redeployment program
Sanjeev Gupta's Liberty Steel UK gets cash injection in restructured plan
Britain is considering all options for Liberty Steel after the collapse of its main lender Greensill Capital, but nationalisation was the least likely route
In a statement on Saturday, JSW Steel said its focus remained in India for now and it was not looking at acquiring any overseas assets
The Scottish National Party's dealings with GFG Alliance bear scrutiny
Sanjeev Gupta's Liberty Steel UK plans to restart steelmaking next week and continues to seek new funding after its main financial backer Greensill Capital went into insolvency, it said on Monday
Sanjeev Gupta acquired a burgeoning UK empire in five years; in India, he has secured a one-million-tonne plant after two years of trying
Gupta bought the British-based bank about a year ago, hoping to use it for trade finance within the Commonwealth group of countrie
The acquisition has helped the company expand its footprint in the US steel downstream products market, Liberty Steel said in a statement
Gupta said Liberty House would fund these acquisitions through a mix of equity and debt, and it would be asset-specific
When Gupta left Ludhiana in early 1980s to study in the UK as an 11-year-old, few would have thought he would return three decades later as a saviour of multiple Indian companies
Under the proposal, Liberty has committed to protect the jobs of over 1,500 permanent employees