GFG Alliance to merge steel operations into Liberty Steel Group

Sanjeev Gupta announced that his family's steel operations will be merged by the end of 2019 into a new entity, Liberty Steel Group, with $15 billion annual turnover, to prepare for a potential IPO. The group has 18 million tonnes annual output and 30,000 employees across 10 countries.

“British commodities tycoon Sanjeev Gupta will merge his family's steel operations by the end of the year into a new entity, the Liberty Steel Group, to be ready for a potential listing.”sg.finance.yahoo.com

• 3 sources
• sg.finance.yahoo.comMetals tycoon Gupta to merge steel operations ahead of possible IPOEric OnstadOct 29, 2019
• rothbiz.co.ukrotherham business news: News: Liberty Steel plants to merge into one global groupTom AustenOct 30, 2019
• steelmarketupdate.comLiberty Steel Group—Bigger and Greener - Steel Market UpdateSandy WilliamsNov 1, 2019

Summarized from public sources; check the original articles before acting on it.