Abu Dhabi-based sovereign investor, Mubadala Investment Company, has announced the signing of two agreements aimed at facilitating investments in sectors of mutual priority and interest in France.
The two deals, signed during the visit of French President Emmanuel Macron to the UAE, are part of comprehensive economic agreements valued at more than €15 billion signed between UAE and French companies to strengthen the strategic investment partnership between the two nations, Emirates News Agency (WAM) reported Saturday.
The first agreement between Mubadala and Bpifrance, the French public investment bank, will see the co-investment partnerships between the two companies extended by an additional €4 billion to be invested over the next ten years, with each party committing €2 billion to the French Emirati Fund Partnership (FEF Partnership) and the Innovation Partnership.
The FEF Partnership, which is aimed at supporting, directly or through investment funds, the development of French enterprises with a proven growth potential, has been allocated €3.2 billion. Meanwhile, the Innovation Partnership, which is focused on investments in high-growth French technology companies and Tech/VC Funds, has been allocated €0.8 billion.
The second agreement, which is between Mubadala and the French Ministry of the Economy, Finance and Recovery, provides a framework for funds associated with the Abu Dhabi government to potentially invest €1.4 billion in funds based in France or with significant exposure to the French economy.
The agreement will cover funds with exposure to all French economic sectors, including but not limited to key strategic sectors such as energy, semiconductors, and space.