French nuclear energy group, Areva, has announced that it will sell its 26% share in Eramet to Fonds Stratégique d’Investissement (FSI), a French investment fund, for €776 million.
Eramet, the French mining and metallurgical group, employs around 14,000 people in 20 countries on five continents. The three divisions of the Group – Eramet Nickel, Eramet Manganese and Eramet Alloys, generated a combined €3.576 billion in turnover in 2010.
“The disposal of Areva’s stake in Eramet to FSI is an important step towards achievement of the objective of a minimum of €1.2 billion in disposals that the Group has set for itself as part of the ‘Action 2016’ strategic action plan. The closing of this disposal will thus contribute to the funding of the Group’s strategic and safety-related investment program,” commented Luc Oursel, Chief Executive Officer of Areva.
Edited by: Paul Whittaker, Editor ipmd.net, [email protected]