Abu Dhabi invests in French investment fund project

The French investment fund, called “Lac d'Argent”, will be managed by the Public Investment Bank. AFP / ERIC PIERMONT

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"Mubadala", the sovereign fund of Abu Dhabi, will invest in a French investment fund project, dubbed "Lac d'Argent". Its purpose will be to protect hexagonal jewels.

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Managed by the Public Investment Bank , Bpifrance, the French fund will take minority stakes in large French groups. Its objective is to stabilize the capital of listed French companies and protect them against hostile takeovers.

Abu Dhabi invests one billion euros

The Abu Dhabi sovereign wealth fund has decided to invest a billion euros in it. This is a strong signal, said the French Minister of Economy, Bruno Le Maire, visiting the capital of the United Arab Emirates.

“ The first foreign sovereign fund to invest in this French investment fund is the Abu Dhabi fund. All this must bear witness to the very strong strengthening of the links between Abu Dhabi and France. It is a political gesture which testifies to the confidence of the United Arab Emirates in the vitality of the French economy, in the strength of large French companies, and in their capacity for development . ”

Ten billion euros in total

The French investment fund will have an amount of 4 billion euros by April 2020 with the aim of reaching 10 billion euros.

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  • United Arab Emirates
  • France
  • Economy
  • finances

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