PARIS, Nov 9 (Reuters) - Industralist Sanjeev Gupta's Liberty steel company has secured the financing for its acquisition of a Dunkirk aluminum smelter from Rio Tinto RIO.L .
The Liberty company said on Friday that it had entered into a committed financing agreement with a syndicate of major international banks. It said the term loan, secured on standard financial terms, provided for five years of committed funds.
Liberty added that the financing allowed it complete the takeover of the site, which employs 560 staff, by end-November.
"Today's announcement follows extensive talks over recent months aimed at securing French Government approvals, long-term power price contracts and robust measures to protect the business in the face of aluminium market turbulence arising in part from U.S. sanctions against Rusal and the closure of a major alumina refinery in Brazil," Liberty said in a statement.
Rio Tinto and Liberty had announced in January a binding agreement on the sale of the Dunkirk site, Europe's largest aluminium smelter, in a deal expected to be worth $500 million, subject to final adjustments.
PARIS, Nov 9 (Reuters) - Industralist Sanjeev Gupta's Liberty...
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$115.31 |
Change
-0.130(0.11%) |
Mkt cap ! $42.80B | |||
| Open | High | Low | Value | Volume |
| $115.39 | $116.15 | $114.86 | $81.85M | 709.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 81 | $115.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $115.55 | 79 | 1 |
View Market Depth
| Last trade - 16.15pm 15/09/2025 (20 minute delay) ? |
| RIO (ASX) Chart |