The French Strategic Investment Fund in €776 Million Acquisition of a 26% Stake in Eramet

Cleary Gottlieb represented the French Strategic Investment Fund in its acquisition of a 26% stake in Eramet from Areva. The acquisition closed on May 16 for the sale price of €776 million payable partly in cash and partly in shares of French publicly listed companies.

FSI signed a shareholders agreement with Sorame and Ceir, holding companies of the Duval family.

Eramet is a global leader in the production of nickel and manganese and a strategic supplier on specific high value-added markets in the field of special alloys and superalloys. Historically present in New Caledonia, Gabon, and France, the Group is pursuing ambitious development projects in various other geographical areas.

FSI is committed to support Eramet’s development strategy for its historical activities as well as the Group’s future transformative projects.