Eramet wants Areva to reduce it’s 26% stake in the company

Posted By: Religare
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Eramet wants Areva to reduce it’s stake
Eramet, an independent French mining and metals group, wants Areva to reduce it"s 26% stake in the company. Eramet is looking to possibly join France"s main share index, and wants to increase the number of shares it has on the market.

Rumours of a merger with Areva"s mines have been floating around much to the chagrin of Eramet, and the company is seeking to squash those.

The company"s CEO Patrick Buffett said, "Would it really be that different if the stake (of Areva) were to be 10 percent rather than 26 percent? I wonder."

France"s energy minister had said earlier this year that Areva"s mining business would be turned into a subsidiary by the state, and Eramet could be one of the companies that could take a stake in the business. However, ARVCF said the stake was, “either too much or too little."

Read more about: joint venture, areva, mining, metal
Story first published: Wednesday, May 4, 2011, 9:30 [IST]
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