
Romain Zaleski blames the governance of the mining group.
Movements around the capital Eramet continues. Reportedly, the president of Gabon, o Ali has recently sent two letters to the direction of Eramet. In the first, he asked his country to become a shareholder of the mining group, with a stake of between 10 and 15%. In the second, he sought an increase in its stake in Comilog - the company, a subsidiary of Eramet operates nese mines in Gabon - 25% to 33%. This would replicate the pattern in nese exists in the nickel industry group: the provinces of New Caledonia (STCPI) are both shareholders of the mining group and its subsidiary Caledonian Society Le Nickel.
The application of AH o is "a way to start a negotiation, it has not yet been considered by the board of directors of the group," a close analysis file. And it is still too early for the problem of financing a possible equity is raised. However, assumptions are already raised. The entry of Gabon capital of Eramet could be the occasion of the release of Areva, which owns nearly 26%. The Strategic Investment Fund is slated to resume participation. But, given the sums involved - the market capitalization of Eramet $ 6.3 billion - other scenarios are considered. "The ISP could get round the same time that Gabon, with, incidentally, increase the free float would help to advance the value of the title," said one familiar with the matter. Provided, however, that the Duval family, related to Areva by shareholders, exercised their right of first refusal.
A shareholder stirring:
Since his arrival as President of Gabon in October, oa Ali made "local processing of raw materials" the pillar industry of Gabon "(in addition to nese, Gabon also has iron ore and petroleum). In this context, the 'marriage of Gabon capital of Eramet would be very constructive, "a judge familiar with the matter. The group in fact eve to keep excellent relations with governments of countries where it operates.
But for some, these demands have been inspired by Romain Zaleski, Eramet third shareholder to increase its influence in the mining group, while it is in conflict with Duval. Jean-François Saglio, President Carlo Tassara France, is adamant and says "they have not discussed this matter with Ali o '.
In the legal field, Romain Zaleski contests since December the terms of the merger of Aubert & Duval (Duval brought by the family) and Eramet while not yet a shareholder of the mining group. A case whose outcome could take several years. Another sign of deteriorating relations: Last week, Carlo Tassara did add four draft resolutions to the agenda of the General Assembly of Eramet, requesting revocation of their directorships of four Duval. These resolutions have, for reasons arithmetic, no chance of being adopted.
Romain Zaleski puts into question their capacity as managers. The profitability of Aubert & Duval has long lagged behind that of major competitors and the expectations of the former management of Eramet. Romain Zaleski also calls into question the governance of Eramet when he is not represented on the board. This shareholder has challenged the stirring accounts of the nese division in 2003, but never those of alloys, obtained in 2008 and thirty million to settle a dispute that pitted the Comilog.
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