France’s FSI Says It’s Close to Deal With Areva on Eramet Stake

France’s state-owned fund for strategic investments, or FSI, is close to a deal to buy Areva SA’s 26 percent stake in nickel miner Eramet (ERA) SA.

FSI, which began exclusive talks with Areva in December, expects to complete the deal “within the next few weeks,” Jean-Yves Gilet, the head of FSI, told reporters at a briefing in Paris today.

Eramet has a market value of 3.4 billion euros, valuing the 26 percent stake at about 884 million euros.

The state fund is currently holding talks with Eramet’s controlling shareholder, the Duval family, which has a shareholder pact with Areva, Gilet said.

To contact the reporter on this story: Helene Fouquet in Paris at hfouquet1@bloomberg.net

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net

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