Eramet agrees to sell Aubert & Duval to aeronautics consortium

Mining group Eramet said on Tuesday it has signed a memorandum of understanding to sell alloys maker Aubert & Duval (A&D) to an Airbus AIR.PA, Safran SAF.PA and Tikehau Ace Capital consortium, as it pursues a focus on mining activities.

The planned deal, which the parties expect to complete before the end of the year, is based on an enterprise value of 95 million euros ($107.34 million), Eramet said in a statement.

(By Gus Trompiz; Editing by Jan Harvey)