A group of French companies led by a state-backed investment fund has agreed to invest $150 million in Kingdom Holding, the Saudi Arabian investment firm chaired by billionaire Prince Alwaleed bin Talal, Kingdom said.
Aeroports de Paris, insurer AXA and construction group Eiffage are among the companies in the consortium led by France's Caisse des Depots (CDC), the French state holding company said in a separate statement.
Kingdom and CDC said separately they had signed a memorandum of understanding to discuss the creation of a jointly managed fund to invest in smaller Saudi Arabian firms.
Each party would initially contribute $50m, increasing to $100m with the later arrival of third-party investors to reach an overall target of $400m, CDC said.
http://www.emirates247.com/news/region/french-group-to-invest-150m-in-kingdom-holding-2015-06-28-1.595093
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