Eramet has signed a non-binding Memorandum of Understanding (MoU) for the sale of Aubert & Duval (A&D) to a consortium formed by Airbus, Safran and Tikehau Ace Capital. A&D is the producer of high-performance steels, superalloys, titanium and aluminum and a strategic supplier for the aerospace industry. The acquisition by the consortium would provide the necessary support for the development of the company. This transaction, expected to be completed before the end of 2022, is fully aligned with Eramet’s strategic roadmap, which aims to refocus on its upstream activities and develop metals for the energy transition.
Under the terms of the transaction, A&D’s divestment would be based on an enterprise value of €95m alongside with a set of specific guarantees in addition to the usual guarantees.
In the context of this operation, a «golden share» was set up by the French State within Eramet2 with the scope of certain strategic assets held by A&D.
The operation is subject to consultation with employee representative bodies and all necessary regulatory approvals.
