Sanjeev Gupta has talked about going to the capital markets to raise funds to expand in Oz.
My punt is he will list the assets in Australia and then do a deal with the Indian government or taken over by the Indian government in 2 years.Sanjeev Gupta has talked about going to the capital markets to raise funds to expand in Oz.
Branding his Oz Liberty assets as InfraBuild, means his private Liberty group offshore assets, which his family owns, doesn't get mixed up with the Australian assets listed on the ASX in the future, is my bet why this change now.
So Ports for India?My punt is he will list the assets in Australia and then do a deal with the Indian government or taken over by the Indian government in 2 years.
In return for getting around FIRB, Sanjeev will be given an asset in India through a "competitive tender process" in traditional Indian style.
Same said for the other Indian families sent to Australia in the last 5 years
BHP and Rio were told a few weeks back to diversify their customer base away from China. Specifically referring to coal but just as relevant as iron ore.So Ports for India?
And I think PwC are preparing the business case for the bail out....Ports all round.GFG Alliance Chairman Sanjeev Gupta has approached the federal government for financial assistance, which could take the form of a government loan guarantee.www.whyallanewsonline.com.au
GFG Alliance Chairman Sanjeev Gupta has approached the federal government for financial assistance, which could take the form of a government loan guarantee.
Mr Ramsey said a dollar figure had been proposed by GFG at a preliminary stage, but he wasn't aware of what the figure was.
"We have signaled our willingness to sit down and talk about the possibility of co-investment or underwriting whatever it may be," he said.
"But this is not very advanced...it's early days."
Port Pirie's lead smelter was saved by a $291 million loan guaranteed by the state government in 2014. That loan will be paid back by late 2022 by new owners Trafigura.
Member for Giles Eddie Hughes said it was possible that GFG were looking for a similar loan guaranteed by the federal government to allow the local business to expand and remain sustainable.
"It's entirely reasonable for a company to sit down with the government to discuss that and negotiate what assistance might be available.
LOL he is preparing for a government guarantee, not a bail out.And I think PwC are preparing the business case for the bail out....Ports all round.
Window dressing. You simply cant get a loan for heavy industry without a govt guarantee.LOL he is preparing for a government guarantee, not a bail out.
A government guarantee will let his finance guy Lex Greensil of Greensill Capital to be able to bundle up his bonds as having low risk or higher credit rating, not quiet a low sovereign risk rating like his Scottish aluminum plant and hydro power deal, but a lot higher rated than if no government guarantee.
Nyrstar's operations for a start....its the same finance model GFG is seeking. Only problem for GFG is Pt Pirie fluked $ from EFIC. Once bitten twice shy for AG and SAG. Try asking an Australian or international bank today for a redevelopment loan for a refinery...without a govt guarantee.List all the heavy industry companies with government guarantees - as you said none of them can get a loan with a government guarantee.