International industrial and metals group Liberty House has announced that it has not been chosen as the preferred bidder for Australia-based mining and steelmaking company Arrium, which was placed in voluntary administration last year.
Liberty’s executive chairman Sanjeev Gupta stated that they are disappointed with the decision but added that Liberty’s parent company GFG Alliance will continue to seek out opportunities in Australia that generate sustained value creation and employment, adding that they are also continuing investments in the UK, Europe, the US and India.
In November last year, Liberty announced that it joined with SIMEC shipping, the mining and energy group established by Sanjeev Gupta’s father Parduman Gupta, to make a joint bid for the assets of Arrium.