Eramet's top shareholder weighs exit as $500 million capital raise looms, FT reports

April 8 (Reuters) - Eramet's ERMT.PA largest shareholder, the Duval family, has hired bankers as it considers the sale of its stake in the troubled French mining group, the Financial Times reported on Wednesday, citing people familiar with the matter.

The family has appointed Lazard to explore options for its 37% holding and to advise them ahead of the company's capital raise, the report added.

Eramet did not immediately respond to a Reuters request for comment, while the Duval family could not be immediately reached.

The French mining and metallurgical group said in February that it was planning a capital raise of 500 million euros ($583.80 million) as well as asset sales to shore up cash, after reporting a big drop in its annual earnings.

The capital increase was backed by Eramet's main shareholders, the Duval family and the French state, Chair Christel Bories had said.

The plan was announced after the company posted full-year adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of 372 million euros, down 54% from 2024, pressured by lower manganese prices, a weaker dollar and nickel production setbacks in Indonesia.

The nickel, manganese and lithium producer is also facing a management crisis following the firing of former CEO Paulo Castellari and the suspension of finance chief Abel Martins-Alexandre within days of each other in February.

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