GFG’s European expansion
BY ELIZABETH FABRI BRITISH steel magnate Sanjeev Gupta’s GFG Alliance will pay $US500 million for Rio Tinto’s Aluminium Dunkerque smelter as part of a planned expansion into central Europe. Rio Tinto announced it had received a binding offer from GFG Alliance’s industrial arm Liberty House, which it expected to complete in the second quarter of 2018, subject to final adjustments. The deal followed GFG Alliance’s acquisition of Rio Tinto’s Lochaber Smelter and assets in Scotland in December 2016; however this would be the group’s first significant step into continental Europe. GFG Alliance executive chairman Mr Gupta said Liberty planned to develop the 570-worker plant, and potentially create thousands more jobs on-site and for the wider community. The company also hoped…