At the end of 2022, the NAV reached €5.9bn or €199.5 per share
(- 14%). Dividends received amounted to €286m, driven by Stellantis
(€170m). Net debt was €885m, €261m lower than at the end of 2021,
giving an LTV of 16%. This was achieved despite €329m of
investments, including €200m of commitments to private equity
funds, as expected. Asset disposals amounted to €532m
(investments and co-investments).
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