Liberty House considers bid for Rio Tinto's aluminium smelter in France
Liberty House, an industrial and metals company controlled by Sanjeev Gupta, is looking at making a bid for Rio Tinto’s aluminium smelter in northern France.
Three sources with direct knowledge of the matter told Reuters that the aluminium smelter, which valued at around 200 million euros ($234.44 million), would add to the Gupta Family Group (GFG) conglomerate.
The Dunkirk aluminium smelter is currently Europe’s number one producer of aluminium in particular aluminium slab. The smelter has an annual capacity of 270,000 tonnes and is powered by nuclear energy supplied by EDF.
Earlier reports suggested that Rio was considering the sale of its Dunkirk aluminium smelter. The company was planning to sell its aluminium smelting operations that are “not powered by hydroelectricity” to stay sustainable and profitable over the long run.
Liberty House is looking to become a major player in aluminium. In 2016, the company acquired Rio Tinto’s aluminium smelter and hydro power plant for $410 million in Scotland.
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