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News
The State Government says it is “not aware of any imminent impact” on Whyalla’s steel operations after UK investigators visited several offices linked to Sanjeev Gupta’s GFG Alliance overnight as part of a major fraud probe.
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Business
In this week’s briefcase, Oz Minerals will trial long-distance electric trucks as part of its bid to cut emissions, Sanjeev Gupta will address an Adelaide business lunch next month and Coopers prepares to launch a new beer to celebrate its 160th anniversary.
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A six-week standstill agreement with Credit Suisse has expired without Sanjeev Gupta’s GFG Alliance finalising the refinancing of its Australian operations – but the company insists its negotiations to secure the future of the Whyalla Steelworks are progressing well.
Sanjeev Gupta’s GFG Alliance says it has negotiated a six-week standstill agreement with Credit Suisse while it finalises the refinancing of its Australian operations, which include the Whyalla steelworks.
A court case that aims to wind up operations at the Whyalla Steelworks is still set down to begin this morning, despite an eleventh hour announcement by Sanjeev Gupta’s GFG Alliance yesterday that a refinancing deal for its Australian operations had been agreed.
Sanjeev Gupta’s GFG Alliance says it is closing in on a deal to refinance the Whyalla steelworks, potentially heading off a court bid to wind up its Australian businesses.
