Liberty's India constraint: Reassuring lenders remains a tall order

How does Sanjeev Gupta turn around businesses when pedigreed groups have failed? The question confronts the Ludhiana-born British businessman each time he scoops up assets to create his $20-billion steel, aluminium and renewable energy empire from an obscure trading company five years ago. On October 16, Liberty Steel Group — part of GFG (an acronym for Gupta Family Group) Alliance, a collection of businesses and investments owned by Sanjeev Gupta and family — announced that it had made an offer to acquire thyssenkrupp Steel. If it materialises, the deal would be Libert.....

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