Eramet Reaffirms Support for Capital Hike Amid Stake Rumors
Eramet shareholders reaffirmed support for a 500 million euro capital hike. The group downplayed news that the Duval family hired a bank to advise on options.
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The major shareholders of ERAMET, including the Duval family, have reaffirmed their support for a planned capital increase as the mining group works to stabilize its financial position. The company announced in February that it intends to raise 500 million euros through a combination of a capital hike and asset sales to address a recent slump in earnings and rising debt levels. Based in France, the producer is moving forward with its funding strategy despite reports of shifting dynamics among its largest investors.
