Qatari fund invests USD40m in France’s Altis

26 Apr 2011

(MENAFN) French government official, Yazid Sabeg, who in August acquired France-based chipmaker Altis, announced that the company has received approximately USD65.7 million in investment from Qatari and French sovereign funds, Reuters reported.

According to Sabeg, the Qatari Diar sovereign real estate fund has invested around USD40.1 million, while the FSI has invested USD26.8 million.

Altis, formerly owned by IBM and was purchased by Sabeg, who also owns a small-cap IT consultancy called CS Communication.

The mentioned French fund was designed to support small companies deemed strategically important to France, he elaborated.

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