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French bank Bpifrance unlikely to reach fundraising target for Lac1 fund - CEO

PARIS (Reuters) - French state-owned bank Bpifrance is unlikely to reach its target of raising 10 billion euros ($11.71 billion) for its "Lac1" fund to support major French listed companies, its CEO Nicolas Dufourcq said on Tuesday.

Dufourcq said that the "Lac1" fund will instead likely raise between 5 billion and 6 billion euros ($5.86-$7.03 billion).

($1 = 0.8537 euros)

(Reporting by Gwenaelle Barzic; Writing by Matthieu Protard; Editing by Louise Heavens)

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