The steel company owned by tycoon Sanjeev Gupta has said it is nearing a deal to restructure debt payments with creditors including Credit Suisse and collapsed lender Greensill Capital.
Gupta’s Liberty Steel Group said in a statement on Tuesday it had reached an agreement in principle to restructure its debts, although it is understood that the details of any deal have not been confirmed. A deal could give Liberty Steel reprieve from insolvency proceedings started by the creditors.
