July 28, 2020 / 7:52 AM / 7 days ago

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 (574.82 million pounds), more than the 500 million originally planned, said Dassault Aviation (AVMD.PA) on Tuesday.

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

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

Reporting by Sudip Kar-Gupta, editing by Louise Heavens

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