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.
The steelworks in Whyalla. Photo: AAP/Lukas Coch
Citibank, on behalf of Credit Suisse, yesterday lodged an application in the New South Wales Supreme Court to wind up the operations of Gupta’s OneSteel Manufacturing and Tahmoor Coal Pty Ltd.
OneSteel Manufacturing runs the Whyalla steelworks, while Tahmoor Coal Pty Ltd operates a coal mine in NSW.
Successful legal action could force the Whyalla steelworks – the town’s biggest employer with around 1200 workers – into…