ID :
62727
Wed, 05/27/2009 - 13:27
Auther :
Shortlink :
https://oananews.org//node/62727
The shortlink copeid
FSI and Mubadala to cooperate on investment in French companies
The Fonds Strategique d'Investissement (FSI) and Mubadala Development Company PJSC (Mubadala), a business development and investment company that is a catalyst for the economic diversification of the Emirate of Abu Dhabi, yesterday signed a Memorandum of Understanding (MOU) in Abu Dhabi establishing a cooperation framework to explore joint investments in French companies in sectors that are of mutual interest to both companies such as technology, health sciences and biotechnology, renewable energy and clean technologies.
The MOU was signed during the French President's visit to Abu Dhabi, by H.E. Khaldoon Khalifa Al Mubarak, CEO and Managing Director of Mubadala and Gilles Michel, CEO of FSI. This partnership is the first of its kind for both parties and is designed to pool the work and resources of FSI and Mubadala.
The cooperation framework established under this MOU provides for joint review of investment opportunities in listed or private French companies with a focus on companies with high-growth potential. It also contemplates the possibility of joint investments in dedicated investment vehicles or in private equity funds. As such, the MOU envisages the sharing of expertise and resources between two investors with compatible strategic objectives.
FSI and Mubadala will set up a Steering Committee which will comprise at least two members of senior management from both entities. The Committee's mission is to identify, study and select investment opportunities and to manage the joint working teams staffed by the two entities that will carry out the approved projects. The first meeting of this Committee will be held within a month.
The FSI is a société anonyme (French public limited company) 51% held by the Caisse des Depots and 49% by the French State. The FSI is an experienced equity investor taking minority interests in French high-potential industrial companies that add value and improve the competitive position of the economy.
Mubadala Development Company is a catalyst for the economic diversification of the Emirate of Abu Dhabi. The company's commercial strategy is built on the management of long-term, capital-intensive, investments that deliver not only strong financial returns but tangible social benefits for the people of Abu Dhabi. In doing so Mubadala is expanding the economic base of the Emirate and in turn significantly contributing to the growth and diversification of the Abu Dhabi economy.
Mubadala brings together and manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. The company works independently and as an active and diligent partner with leading global organizations to deliver projects across a wide range of industry sectors including energy and industry, healthcare, infrastructure, real estate and information communications and technology. Unbound by convention, Mubadala's dynamism and innovation are complemented by a focused and diligent approach to realizing value. Mubadala's sole shareholder is the Government of Abu Dhabi.
The MOU was signed during the French President's visit to Abu Dhabi, by H.E. Khaldoon Khalifa Al Mubarak, CEO and Managing Director of Mubadala and Gilles Michel, CEO of FSI. This partnership is the first of its kind for both parties and is designed to pool the work and resources of FSI and Mubadala.
The cooperation framework established under this MOU provides for joint review of investment opportunities in listed or private French companies with a focus on companies with high-growth potential. It also contemplates the possibility of joint investments in dedicated investment vehicles or in private equity funds. As such, the MOU envisages the sharing of expertise and resources between two investors with compatible strategic objectives.
FSI and Mubadala will set up a Steering Committee which will comprise at least two members of senior management from both entities. The Committee's mission is to identify, study and select investment opportunities and to manage the joint working teams staffed by the two entities that will carry out the approved projects. The first meeting of this Committee will be held within a month.
The FSI is a société anonyme (French public limited company) 51% held by the Caisse des Depots and 49% by the French State. The FSI is an experienced equity investor taking minority interests in French high-potential industrial companies that add value and improve the competitive position of the economy.
Mubadala Development Company is a catalyst for the economic diversification of the Emirate of Abu Dhabi. The company's commercial strategy is built on the management of long-term, capital-intensive, investments that deliver not only strong financial returns but tangible social benefits for the people of Abu Dhabi. In doing so Mubadala is expanding the economic base of the Emirate and in turn significantly contributing to the growth and diversification of the Abu Dhabi economy.
Mubadala brings together and manages a multi-billion dollar portfolio of local, regional, and international investments, projects and initiatives. The company works independently and as an active and diligent partner with leading global organizations to deliver projects across a wide range of industry sectors including energy and industry, healthcare, infrastructure, real estate and information communications and technology. Unbound by convention, Mubadala's dynamism and innovation are complemented by a focused and diligent approach to realizing value. Mubadala's sole shareholder is the Government of Abu Dhabi.
