Russia's RDIF, France's CDC consider joint investment in Olmix

Reuters, 19.12.2017

MOSCOW, Dec 19 (Reuters) - The Russian Direct Investment Fund (RDIF) and a unit of French public-sector lender Caisse des Depots are considering investing in French biotechnology company Olmix, the state Russian fund said on Tuesday.

Investments could amount to up to 15 million euros ($17.70 million) and Olmix, a maker of algae-based products, would use the money to expand its production facilities in Russia's second biggest city of St Petersburg, RDIF said.

The deal would kick off a next stage of cooperation between RDIF and CDC International Capital which have agreed to jointly look for and finance small and medium business projects in Russia and France.

Investments in each project will not exceed 20 million euros.