Jean-Bernard Lafonta, chief executive of Paris-listed investment group Wendel, said the firm has €2bn ($3.1bn) in cash and is looking to make investments in new territories in the same week as French peer Eurazeo restructured its portfolio to free up cash for acquisitions.

Lafonta said in an interview with French business daily Les Echos, that Wendel would be targeting investments in Japan, as well as countries nearer to home like Germany.