Liberty House highest bidder for Amtek Auto

New Delhi, Mar 8: Liberty House, part of Sanjeev Guptas global industrial group GFG Alliance, today said it has emerged as the successful highest bidder for Amtek Auto Pvt Ltd, paving the way for the formers entry into the Indian market.
“Liberty House…is set to make a dramatic entry into India after being chosen as preferred H1 bidder for Amtek Auto assets which include 35 automotive component plants across India, Japan, Thailand and Spain, employing some 6,000 people,” the company said.
The announcement of Liberty as the successful preferred bidder was made in the committee of creditors meeting held yesterday and confirmed by the insolvency resolution professional today.
This follows the corporate insolvency resolution process of Amtek Auto which began on July 24, 2017.
Commenting on today?s announcement GFG Executive Chairman Sanjeev Gupta said, “This is a very proud moment for GFG and for my family. We are very excited about this opportunity to restore a great Indian business to its rightful position and add a major new asset portfolio to our international network. This business will be the cornerstone of our strategy…and expand our footprint in the automotive sector worldwide.”
He added, “We look forward to working closely with the high calibre customer base Amtek Auto enjoys. We are very pleased to be able to secure the jobs of 6,000 workers and welcome them to the global GFG family.”