LONDON, Oct 1 (Reuters) – American Industrial Partners said on Friday it has acquired ownership of an aluminium smelter in Dunkirk, France after a default on debt by a unit of the GFG Alliance owned by commodities tycoon Sanjeev Gupta.
AIP said in a statement the acquisition took place after a foreclosure on shares which were pledged to AIP under mezzanine financing arrangements.
(Reporting by Eric Onstad, Editing by Louise Heavens)
((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net))
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