Saturday, May 18, 2024

17.45 billion dirhams additional investment for Mubatala in France

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Khalifa Khalifa al-Mubarak, Mubatala’s managing director and chief executive officer, said the new investment agreements signed by Mubatala yesterday during the visit of French President Emmanuel Macron were an extension of the existing strategic economic cooperation between the United Arab Emirates and the French Republic. , In addition to the record of successful funding programs, we have implemented with our partners in France. The size of these agreements reflects our belief that there are better opportunities to invest in the French economy entering a new phase of growth based on new innovations.

Yesterday, Mubatala Investment Company concluded two deals worth approximately 4.2 billion euros (17.45 billion dirhams), the first with the French national investment bank “PPI France”, with the aim of strengthening the existing investment partnership between them by allocating 4 additional funds. Billions of euros (16.62 dirhams) Each party contributes two billion euros (8.31 billion dirhams).

These additional funds will be paid into the Franco-Emirati Fund Partnership and Innovation Partnership over the next ten years. ஞ்சு 3.2 billion has been allocated to the French-Emirati financial partnership, which aims to support French projects and organizations that have the potential to guarantee growth, either directly or through investment funds. France has allocated € 0.8 billion (3.32 billion dirhams) for an innovation partnership focusing on technology companies and start-up support funds.

The second agreement, signed between Mubatala and the French Ministry of Economy and Finance, provides a common framework for allowing funds linked to the Abu Dhabi government to invest 1.4 billion euros (5.82 billion dirhams) in funds operating in France or linked to it. French economy. The agreement facilitates investment in all sectors of the French economy, including strategic sectors such as energy, semiconductors and aerospace.

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After the announcement of the agreements, Calcutta Khalifa Al Mubarak said that we can accelerate our investments in key sectors that contribute to the strengthening of trade relations between the United Arab Emirates and France and the promotion of economic growth. Both countries for a long time.

For his part, French Economy, Finance and Rescue Minister Bruno Le Myre said: “I would like to thank Mubadala and PPI France for extending the existing joint venture partnership. The strategic partnership confirms France’s charisma and the United Arab Emirates’ confidence in the potential of the French economy, which was confirmed yesterday with the signing of a second agreement providing an additional 4 1.4 billion to invest in the French economy.

For his part, Bpifrance CEO Nicolas Dufork said: “We are proud of this important step in our partnership journey with Mubatala, which began in 2014. Over the next ten years, these two agreements reaffirm our common desire to build long-term support and value-added relationships for French companies.” Embodies Mubatala’s commitment to invest in France, where it currently has significant partnerships with a number of companies and organizations.

It is noteworthy that the BPI, which began with the establishment of the French-Emirati Fund in 2014 and the Innovation Partnership in 2017, has a strong relationship with France and the Mufti, and in 2020 the Mufti promised to allocate one billion euros to invest in the LAC I fund. BPI France aims to invest in French multinationals listed on the financial markets.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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