Eramet shareholders seeking to break pact - paper

Quotes

   

PARIS, April 4 | Fri Apr 4, 2008 6:35am BST

PARIS, April 4 (Reuters) - The Duval family, the top investor in French mining group Eramet, is seeking to free itself from a shareholder pact with French nuclear energy group Areva so that it can sell shares, Les Echos reported on Friday.

The Duvals, who have been shareholders since 1999, own 37 percent of Eramet (ERMT.PA) and Areva CEPFi.PA some 26 percent.

Management would like to see the pact renewed but the two are expected to start serious talks about breaking it up after Eramet's annual shareholder meeting on April 16, the paper said.

The pact gives the Duvals and Areva first right of refusal if one or the other decides to sell shares.

No-one at Eramet was immediately available for comment. (Reporting by Astrid Wendlandt; Editing by Paul Bolding)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.