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Key Gupta Aluminum Plant at Risk as Ex-Suitor Seeks Control (1)

July 29, 2021, 7:24 AM

Private equity group American Industrial Partners has moved to take control of one of Sanjeev Gupta’s key assets, the Dunkirk aluminum smelter, in an escalation of an acrimonious battle between the businessman and the suitor he spurned.

A U.K. holding company for the smelter has been placed into administration, according to a filing last week. The legal action was initiated by AIP, according to a person familiar with the matter, who declined to be named as the matter isn’t public. AIP owns most of the senior debt on the Dunkirk plant in France.

Sanjeev Gupta
Photographer: Brendon Thorne/Bloomberg

The move threatens Gupta’s control ...

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