French aerospace ‘ACE Aero’ support fund raises 630 million euros

PARIS (Reuters) – The ACE Aero Partenaires fund set up to support the French aerospace industry has raised an initial amount of 630 million euros ($738.80 million), more than the 500 million originally planned, said Dassault Aviation on Tuesday.

The aerospace support fund was launched last month by French Finance Minister Bruno Le Maire. Aerospace companies Airbus , Safran , Thales and Dassault Aviation launched a call for tenders and selected the Tikehau fund and its subsidiary ACE.

Dassault Aviation said it was contributing 13 million euros to the ACE Aro Partenaires fund, whose target remains a total fund raising of 1 billion euros.

(Reporting by Sudip Kar-Gupta, editing by Louise Heavens)