Close X
Wednesday, November 6, 2024
ADVT 
International

Meet Sanjiv Gupta, Man Seen As Potential Buyer Of Tata Steel UK

IANS, 06 Apr, 2016 12:58 PM
    He has emerged as the man to watch out for when Tata Steel initiates the formal process to sell its UK assets. Meet Sanjiv Kumar Gupta, founder of the UK-based Liberty House.
     
    Gupta is the key man British Business Secretary Sajid Javid met in London on Tuesday, just before flying to Mumbai for a meeting with Tata Group chairman Cyrus Mistry. Gupta, in fact, has already indicated his intention to stop widespread job losses in Tata Steel UK.
     
    “I am pleased to report we had a positive meeting today. UK government appears highly supportive and is proactively engaged in finding a long-term solution," Gupta is quoted as saying after his meeting with Javid.
     
    “The next step is for Tata (Group) to define the formal sales process and request indications of interest from potential buyers. We await further details on this and then will assess our own next step.”
     
    For the record, Liberty Group has revenues approaching $5 billion, covering steel, raw materials and non-ferrous metals, while employing more than 2,000 people globally. It also produces about 5 million tonnes per annum of steel and steel products.
     
    Gupta is also not new to takeovers.
     
    Ten days ago, Tata Steel UK announced it has reached an accord to sell its Clydebridge and Dalzell steel facilities in Scotland. The deal involved the sale of the two plants to the Government of Scotland, which was to, in turn, sell them on to Liberty House.
     
    Prior to that, Gupta's group had acquired a 1.5 million tonnes per annum steel plant in Wales that was set up as an integrated producer of steel based on electric arc furnace route with downstream hot rolling mill.
     
     
     
    This complex was shut for over two years, before Liberty's takeover. Now the mill's operations have commenced and plans are on the anvil to eventually revamp the steel melting shop and grow the rated capacities of the mill -- a testimony to Gupta's turnaround skills.
     
    Liberty's other investments include medium-sized mills and service centres in markets such as India and Ghana to strategic stakes in large producers, like a 2.5 million tonne per annum mill for steel and value added products.
     
    As per the group's website, it operates from four financial hubs in London, Dubai, Singapore and Hong Kong with a network of offices spread across 30 countries around the world.
     
    And "SKG", as Gupta is called by his peers, comes from a successful business family of Punjab. The 44-year-old left for Britain when he was 12 years old as a resident student at St. Edmunds College, Canterbury, in Kent. 
     
    He graduated from the Cambridge in 1995 and was subsequently awarded his Master's from Trinity College. Since then, he has been trading in Asia, the Middle East, Europe and Africa.
     
     
     
    "From 2000 onward, SKG’s focus has been on growing the trade in steel, metals and raw materials while developing the industrial asset base of the group," the Liberty website said.

    MORE International ARTICLES

    Family Of Teacher Jailed In Indonesia Says Federal Officials Taking Case Seriously

    Family Of Teacher Jailed In Indonesia Says Federal Officials Taking Case Seriously
    Last month Indonesia's high court overturned Neil Bantleman's acquittal of charges of sexually abusing children and he was put back in prison.

    Family Of Teacher Jailed In Indonesia Says Federal Officials Taking Case Seriously

    Sophie Gregoire-Trudeau, Michelle Obama Team Up To Promote Education For Women, Girls

    Sophie Gregoire-Trudeau, Michelle Obama Team Up To Promote Education For Women, Girls
     The meeting of Prime Minister Justin Trudeau and U.S. President Barack Obama wasn't the only mutual admiration society on display Thursday in Washington.

    Sophie Gregoire-Trudeau, Michelle Obama Team Up To Promote Education For Women, Girls

    Dubai Official Warns Of 'Clash Of Civilizations' Over Donald Trump

    Trump said he wouldn't stoop to being "politically correct" by avoiding such statements.

    Dubai Official Warns Of 'Clash Of Civilizations' Over Donald Trump

    Two Canadian Hostages In The Philippines Shown In New Islamic Extremists Video

    Two Canadian Hostages In The Philippines Shown In New Islamic Extremists Video
    Robert Hall and John Ridsdel — along with a Norwegian man and a Filipino woman — were kidnapped from a resort by members of Abu Sayyaf

    Two Canadian Hostages In The Philippines Shown In New Islamic Extremists Video

    Justin Trudeau In US: State Dinner Features The Best Of Spring, With A Dash Of Canadian Whisky

    Justin Trudeau In US: State Dinner Features The Best Of Spring, With A Dash Of Canadian Whisky
    he best of America's spring produce, with a little help from some Canadian whisky, will feature heavily on the menu for the state dinner Thursday night to mark Justin Trudeau's first prime ministerial visit to the U.S.

    Justin Trudeau In US: State Dinner Features The Best Of Spring, With A Dash Of Canadian Whisky

    I Think Islam Hates Us: Donald Trump

    I Think Islam Hates Us: Donald Trump
    Trump, 69, maintained that the war was against radical Islam, but said, "it's very hard to define. It's very hard to separate. Because you don't know who's who."

    I Think Islam Hates Us: Donald Trump