French, Qatari sovereign funds invest in Altis — paper

Chipmaker formerly owned by IBM and Infineon receives 50m euros
French, Qatari sovereign funds invest in Altis — paper
MONEY MATTERS: The Qatari Diar sovereign real estate fund has invested around 30m euros. (Getty Images)
By Reuters
Fri 14 Jan 2011 03:02 PM

French chipmaker Altis has received around 50m euros ($65.7m) in investment from French and Qatari sovereign funds, the newspaper La Tribune reported on Friday.

Altis — formerly owned by IBM and Infineon — was bought in August by French government official Yazid Sabeg, who also owns a small-cap IT consultancy called CS Communication.

According to La Tribune, the FSI has invested 20m euros while the Qatari Diar sovereign real estate fund has invested around 30m.

A spokesman for the FSI was unavailable for comment. The fund was designed to support small companies deemed strategically important to France.

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