PRESS RELEASE
Conversion of SLN’s debt to strengthen
Following discussions over the last weeks, the French State and
- The French State and
Eramet have jointly decided to convert their existing loans to SLN into a quasi-equity instrument; - The French State’s existing €320m loans to SLN, currently consolidated as debt in the Group's accounts, will thus be converted into quasi-equity, comparable in accounting terms to equity in
Eramet's consolidated accounts; Eramet will similarly convert the existing intra-group debt of €325m using the same framework. This conversion has no impact on the Group's consolidated accounts but ensures a pari passu treatment of the French State’s and Eramet’s debts.
Additionally,
In line with this agreement, the Group’s two major shareholders have confirmed their support for Eramet’s development strategy, aiming for profitable growth particularly in the field of energy transition metals and to contribute to securing their supply for French and European value chains.
Calendar
25.04.2024: Publication of 2024 first-quarter turnover
30.05.2024: Shareholders’ General Meeting
25.07.2024: Publication of 2024 half-year results
ABOUT
Its employees are committed to this through their civic and contributory approach in all the countries where the mining and metallurgical group is present.
Manganese, nickel, mineral sands, lithium, and cobalt:
As a privileged partner of its industrial clients, the Group contributes to making robust and resistant infrastructures and constructions, more efficient means of mobility, safer health tools and more efficient telecommunications devices.
Fully committed to the era of metals, Eramet’s ambition is to become a reference for the responsible transformation of the Earth’s mineral resources for living well together.
www.eramet.com
INVESTOR CONTACT Director of Investor Relations T. +33 1 45 38 37 02 sandrine.nourrydabi@eramet.com PRESS CONTACT Media relations manager fanny.mounier@eramet.com T. +33 7 65 26 46 83 | |
Attachment
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Eramet - Agreeement with the French State - PR
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