UAE’s Mubadala to invest EUR 1bn in France

UAE’s Mubadala to invest EUR 1bn in France
UAE’s Mubadala to invest EUR 1bn in France

Mubasher: The UAE-based, Mubadala Investment Company signed an Euro 1 billion partnership agreement with vehicles CDC International Capital and Bpifrance.

The first part of the plan includes growing the joint partnership between the two countries through FEF that was launched by Mubadala and CDC International Capital in 2014.

FEF plans to implement long-terms investments near to Euro 300 million euros in healthcare, education, elderly care and property sectors, and the two parties now plan to raise the capacity of the investment more than Euro 500 million.

The second part of deal will be allocated to investments in technology and innovation in France, as Bpifrance and Mubadala will inject Euro 500 million investment euros in startups and mature technology firms.

The programme will focus on information and communication technologies, biotech, and green technology.

Bpifrance is owned by Caisse des Dépôts and the French government.

CDC International Capital is a subsidiary of the French company Caisse des Dépôts Group which invests in sovereign wealth funds.

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Source: Mubasher