Gabon buys stake in France's Eramet

  1. Posted on Thursday 17 June 2010 - 07:59
    AfricaNews editor
    AfricaNews business desk
    French mining group Eramet reveals that Gabon has agreed to buy a stake in the company and to raise its holding in their joint local manganese miner Comilog to around 35 percent from 25 percent. A spokesman said the pact was reached by Gabon President Ali Bongo and Eramet Chief Executive Patrick Buffet.
    bongo_gabon_congoplus.info
    French daily Les Echos had reported Gabon agreed to buy between 4 percent and 5 percent of Eramet, according to Reuters.

    The Eramet spokesman however had no details on the size or the timetable for the deal.
    A source close to the matter recently told Reuters Bongo wanted his country to take a stake in Eramet.

    Such a move would give it a similar status to the provincial authorities in New Caledonia, which, through holding company STCP, are minority investors in Eramet's nickel subsidiary SLN and own 4 percent of Eramet.

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