STEEL PLANT RESCUER
Liberty House sets sights on listing parts of group in 2018
Sanjeev Gupta says an energy business listing will probably be in London, but not steel
London — The founder and chairman of Liberty House, the industrials and commodities group that has been snapping up troubled steel plants around the world, plans to list some of its businesses, probably in 2018. Sanjeev Gupta’s Liberty House, which operates together with energy and commodities business Simec under the $9.4bn Gupta Family Group Alliance, hit the headlines in 2016, when it offered to rescue steel plants owned by Tata Steel UK that were on the verge of shutdown. Liberty has since bought an aluminium smelter in Scotland and a steel plant in the US. It is bidding for Australian steel producer Arrium, US iron ore processor Mesabi Metallics and is considering a stake in a troubled steel plant based in Italy, owned by Algeria’s Cevital Group. "[The listings] will happen sooner or later for sure ... 2018 is a soft target," Sanjeev Gupta told Reuters on the sidelines of the CRU World Aluminium Conference in London. "We want at least one if not more of the businesses to be in ...
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