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AIP says it takes ownership of Gupta’s Belgian aluminium mill after default

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Reuters UK

LONDON (Reuters) – Buyout firm American Industrial Partners said on Tuesday it had acquired ownership of an aluminium rolling mill in Belgium after a default on debt by a unit of the GFG Alliance owned by commodities tycoon Sanjeev Gupta. GFG did not have any immediate comment. This would mark the second asset AIP has acquired that was previously owned by GFG, which has been struggling to find refinancing after supply chain finance firm Greensill filed for insolvency in March last year. Last October, AIP took control of a smelter in Dunkirk, France that is Europe’s largest primary aluminium pr…

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