France will sell stakes in three companies, expecting to raise approximately 2.5 billion euros.

Investing.com – France’s national equity management agency APE announced on Monday that it will transfer its equity stakes in three companies to the public lending institution Caisse des Dépôts, with an expected capital raising of approximately 2.5 billion euros (about 3 billion US dollars).

APE has reached an agreement to sell its holdings in the housing company French Intermediate Housing Company (SLI), the Mont Blanc tunnel operator Mont Blanc Highways and Tunnels Company (ATMB), and the French Freyris Road Tunnel Company (SFTRF).

At the time of this equity sale, APE is shifting its strategic focus to core areas such as defense; it has recently provided funding for the satellite company Eutelsat and acquired Bull, the supercomputing division of Atos.

French Finance Minister Roland Lescure said in a statement that France needs to continue expanding its national influence as a shareholder, prioritizing strategic assets that directly relate to national sovereignty.

The aforementioned equity transaction is still subject to approval by regulatory authorities and other relevant parties.

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