Strategy behind the divestment Neoen is owned 42 per cent by businessman Jacques Veyrat through his Impala SAS firm. Investment fund FSP holds a 6.9% stake and France’s state-controlled investment fund Bpifrance holds 4.39 per cent equity in the company. The move to sell a stake is part of a strategy to avoid conducting any rights issues in Paris that would dilute Impala’s holdings. In March last year, Neoen raised €750 million ($1.2 billion) through