France Probes Missing Greensill Loan to GFG Smelting Plant
- Loan to Liberty Aluminium Poitou plant was government-backed
- Probe seeks to determine whether a criminal offense occurred
Liberty Alumnium Poitou plant in Ingrandes, France.
Photographer: Guillaume Souvant/AFP/Getty Images
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The disappearance of a loan provided by failed startup lender Greensill Capital to a French aluminum smelting plant linked to industrialist Sanjeev Gupta’s GFG Alliance Ltd. is the focus of a preliminary investigation in France.
The case relates to a state-backed loan worth about 18 million euros ($21 million) provided to a GFG-owned site, Liberty Alumnium Poitou, in central France, according to local media. Local investigators will seek to determine whether any criminal offense took place, an official from France’s industry ministry said.