UK’s GFG Alliance signs binding deal to buy struggling steelmaker Arrium

London-based GFG Alliance will buy the struggling Arrium steel plant and iron-ore mining operation in Whyalla, South Australia. GFG Alliance, headed by Sanjeev Gupta, on Tuesday submitted a modified offer for the Arrium Australia businesses, prompting the administrators to back the bid, despite anointing a Korean consortium as the preferred bidder earlier this year.