French Government Sues Greybull Over Novasco Steelmaker

French Government to Sue British Private Equity Firm Over Failed Steelmaker InvestmentThe French government is set to sue British private equity firm Greybull over alleged failed investment promises for struggling steelmaker Novasco. Greybull, which took over Novasco in 2023, has only invested a fraction of the agreed ninety million euros, causing uncertainty for the 700 employees and pressure on the companys automotive industry materials production. The French government has provided eight hundred million euros in funding, but Greybulls lack of investment has led to Novascos administration and potential job cuts. Greybulls history includes other troubled investments like British Steel, Comet, and Monarch.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.