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.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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