Eramet to Execute €500 Million Capital Increase with French State Backing

Eramet has confirmed plans for a €500 million capital increase, set to launch in Q4 2026, with the support of key shareholders and the French State. The decision aims to strengthen the company's financial standing and maintain compliance with bank covenants. This strategic move will also involve the French State, through Agence des Participations de l’Etat (APE), increasing its stake to bolster its hold on critical metals vital for European sovereignty.

The capital increase, announced in February 2026, is designed to both restore Eramet's financial health and support its strategic goals of performance improvement and asset monetization. The transaction will see APE subscribe to its pro-rata share and acquire additional rights, depending on the reference price, without exceeding a 49% voting right threshold.

With APE set to become the largest shareholder, the French State's participation signifies its commitment to securing essential resources amidst global competition. The completion of the capital increase is vital for Eramet to avoid financial instability and support future growth.